Wheat production in the country is expected to break records in 2023 as previous record prices encourage more wheat cultivation.
Based on the data issued by the Ministry of Agriculture & Farmers' Welfare, wheat has been planted on around 15.3 million hectares to date since the beginning of the sowing on October 1, which is about 11% more than the previous year.
Farmers are reported to have begun sowing wheat even on lands allocated for the cultivation of oilseeds and pulses. It is supposed to increase the harvest which may persuade India to reconsider easing the export ban on the grain.
Moreover, the price of wheat has increased by 33% in 2022 to a record price of Rs.29,000 per tonne which is considerably higher than the government’s procurement price of Rs.21.250 per tonne.
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Last updated: 22/12/2023
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