Wheat prices in India are predicted to fall in 9 January, 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 9 January has already slipped 3% to INR2,032 ($28.8) per 100 kg on February 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.
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.