Wheat and Soybean Prices rise sharply

19 November, 2016

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According to farmers of some districts of Madhya Pradesh like Bhopal, demonetization have led to increase in wheat prices. Before 8th November 2016 prices of wheat in Bhopal Mandi was 1200 to 1600 Rs/Quintal which increased from 2000 to 2200 Rs/Quintal on 14th to 15th November 2016. Prices of pulse crop like gram has also increased after demonetization of Rs 500 and Rs 1000 notes. According to farmers of Bhopal (Madhya Pradesh) prices of chickpea (Gram) was 6000 to 8000 Rs./quintal before demonetization. But after 8th November, the prices of chickpea in Bhopal market rose sharply to 12000 to 15000 Rs/Quintal.

   

According to farmers and traders of Sehore (M.P.), arrivals of Soybean and Wheat have declined by almost 90%. Wheat prices shot up to 200 Rs./Quintal. In Sendhwa mandi (Madhya Pradesh), Soybean arrivals dropped from 23-25 tones on 5 to 7 November to 8-10 tones on 15-16 November 2016. This has led to sharply increase in prices of Soybean from 2700 Rs./quintal to 3000 Rs./quintal.

   



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