Millers see bumper wheat crop in FY24, but prices to stay around MSP

In 2022-23, the Centre first estimated wheat production at 111.32 million tonnes, which was scaled down to 107.74 million tonnes owing to bad weather

Wheat prices will remain around the minimum support price of Rs 2,125 per quintal or slightly more though India’s production in the 2023-24 marketing season, which will start in April, is expected to be a bumper one at 108-110 million tonnes, up 12-14 per cent from their FY23 estimate, according to flour millers. This is because pipeline stocks are empty.

“Record production, along with cooling prices, will enable the government to procure the targeted 34 million tonnes,” S Pramod Kumar, president of the Roller Flour Millers’ Federation of India, told reporters.

The Centre, in its second advance estimate, released in