Wheat prices in India are predicted to fall in February, as analysts anticipate a 10% increase in yields compared to last year's 99.7 million metric tonne (mt) harvest because of higher wheat acreage and good weather conditions. NCDEX wheat futures for February has already slipped 3% to INR2,032 ($28.8) per 100 kg on 9 January in anticipation of a bumper crop. The government is expected to announce the new crop insurance scheme by March next year.
Wheat prices in India are predicted to fall in February, as analysts anticipate a 10% increase in yields compared to last year's 99.7 million metric tonne (mt) harvest because of higher wheat acreage and good weather conditions. NCDEX wheat futures for February has already slipped 3% to INR2,032 ($28.8) per 100 kg on 9 January in anticipation of a bumper crop. However, prices are expected to be stabilised in the short-term as Government agency Food Corporation of India is estimated to be holding 25 million metric tonnes (mt) of grain.