Wheat prices in India stabilise in October

08.11.2017

Markets price of wheat in India stayed stable in October with a record harvest predicted in marketing year 2017-18. The forecast suggests up to 98.4 mt of wheat will be produced during MY 2017-18 as most of the wheat-producing states show healthy signs, according to a USDA report released recently.

Farmers are also said to be holding larger quantities of wheat hoping to capitalise on higher prices in late-season sales, thanks to the government’s hike in minimum support prices from USD 251 to USD 267 in the last year.


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