Consumers feel relieved as prices of wheat products fall during festival month

Prices of wheat and wheat-based products like atta, maida and sooji have come down since November, which is expected to provide some relief to consumers during the peak festival season. However, the decline was not uniform across all markets and in some markets in Madhya Pradesh, prices of produce increased slightly, according to data from private traders.

Going forward, market participants believe that prices would be somewhat guided by the pace of sowing of new crops as well as the trajectory of liquidation of wheat stocks by government agencies. Concerning sowing, until the end (i.e. during the week ending November 16), wheat sowing accelerated compared to the previous week as the festivities waned.