03 September, 2014 00:18 IST
News
Wheat prices likely to plunge towards 1,400-1,350: SMC Global
Source: IRIS (07-FEB-13)
Comments  |  Post Comment

Wheat prices are likely to plunge towards 1,400-1,350 levels, breaking the support of 1,440 levels, said SMC Global. As per estimates, production this season is likely to be same as previous year. Fresh harvest would be adding to the huge stocks already lying in the government inventories, it said.

As on Jan.01, 2013 there are now more than 37 million tons of wheat - more than three times the target of 11 million tons.

On the other hand, concerned over surplus wheat stocks, the government's advisory body CACP has suggested the Centre ''aggressively'' push exports.

India is considering allowing additional wheat exports to cut huge stocks at government warehouses and make room for the new season's harvest.

Disclaimer: IRIS has taken due care and caution in compilation of data for its web site. Information has been obtained by IRIS from sources which it considers reliable. However, IRIS does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. IRIS especially states that it has no financial liability whatsoever to any user on account of the use of information provided on its website.


News
'Buy' Gujarat Pipavav Port; target Rs 182: ICICIdirect - 02-Sep-2014 17:19
Elecon Engineering clarifies on media report - 02-Sep-2014 17:13
Tata Motors outlook revised to positive: S&P - 02-Sep-2014 16:51
Petronet LNG likely to move towards Rs 228 in near term: ICICIdirect - 02-Sep-2014 16:33
Ind-Ra affirms Hi-Tech Gears at 'A' - 02-Sep-2014 16:25
CRISIL assigns `AAA/Stable` on PNB - 02-Sep-2014 16:11
M&M allots shares under ESOS - 02-Sep-2014 16:05
Hero Motocorp appoints Sanjay Jorapur as chief HR officer - 02-Sep-2014 15:58
Era Infra bags order worth Rs 3.14 bn - 02-Sep-2014 15:50
CRISIL reaffirms `AA+/Stable/A1+` on Marico - 02-Sep-2014 15:20
NOCIL appoints Dharmishta N Raval as additional director - 02-Sep-2014 14:38
more...
* Q - Quote , N - News , C - Chart , F - Financials
Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type   dd6kgg into this box
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Forums  |   E-mail  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer