Despite imposition of stock limit, wheat prices see percentage rise
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Despite the Centre having imposed stock limit on wheat to control its price rise earlier this month, there has been a percentage increase in its prices in the last 10 days, which may make common man's meal costlier.
The Central government had imposed a stock limit on wheat on June 12, however its efforts don't seem to have borne much fruit.
On June 7, wheat was being sold at Rs 2,302 per quintal, however, after stock limit was imposed on June 12, its prices had come down by two per cent.
On June 14, wheat was being sold at Rs 2,268 per quintal, but on June 22, it's price rose sharply to Rs 2,340 per quintal.
The Central government had announced that from June 28 onwards, it would sell wheat in the open market.
However due to El Nino and poor monsoon conditions, wheat prices are expected to rise further, experts say.
