Record high prices and hope that markets will remain favourable for wheat in the next few months due to dwindling stocks in government granaries and with private traders boosted sentiment, traders said.
According to the latest data from the agriculture ministry, till Friday, wheat has been sown in around 25.57 million hectares. During the same period last year, it was 20.39 million hectares. In total, wheat is usually sown in around 30-31 million hectares of land.
However, below par winters so far in North India and rising temperatures during the daytime remains a concern.
This is more so with the India Meteorological Department (IMD) predicting a warmer-than-normal winter in the north this year.
This story is from the December 10, 2022 edition of Business Standard.
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This story is from the December 10, 2022 edition of Business Standard.
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