New Delhi -°C
Today in New Delhi, India

Sep 18, 2019-Wednesday
-°C

Humidity
-

Wind
-

Select city

Metro cities - Delhi, Mumbai, Chennai, Kolkata

Other cities - Noida, Gurgaon, Bengaluru, Hyderabad, Bhopal , Chandigarh , Dehradun, Indore, Jaipur, Lucknow, Patna, Ranchi

Wednesday, Sep 18, 2019

Wheat may make a hole in your pocket

BULK PURCHASE of wheat, at a higher price by multinational companies, has led to rise in the prices of wheat. Consequently, the big farmers have stopped selling wheat to the government or to wholesale traders as they are awaiting good offer from big companies .

india Updated: Apr 24, 2006 00:54 IST
HT Correspondent
HT Correspondent
None
Hindustantimes
         

BULK PURCHASE of wheat, at a higher price by multinational companies, has led to rise in  the prices of wheat. Consequently, the big farmers have stopped selling wheat to the government or to wholesale traders as they are awaiting  good offer from big companies .

The city wheat traders feel that in case the government failed to  stock sufficient wheat in its godowns, there will be an acute shortage of wheat which will be sold at an exorbitant price affecting the purchasing capacity of the people living below the poverty line.

Bhoopesh Agarwal, a wholesale wheat trader, told the HT that  despite an increase of ten rupee a quintal in the purchase price by the government, the farmers have  preferred to sell it to big  traders and the multinational companies at a higher price.

The revised government rates are Rs 650  per quintal while the farmers were being offered Rs 750 and Rs 780 per quintal  by the  multinational companies. Thus, the farmers have  stopped going to the co-operative stores to sell the wheat  and preferred to sell it to the big  national and international companies.
Middlemen appointed by the big companies have contacted the farmers in their villages and took the delivery of wheat.

Many wheat growers of  Shivrajpur, Banagrmau  Jhinjhak  Bindaki and Gajner did  not bring their products to the city market this year. The traders further said that the wheat growers had sold their produce to big companies.

First Published: Apr 24, 2006 00:54 IST