Live news , top stories, corporate news, company news, sector news, economy news, results analysis news, ceo interviews, fund manager interview, advisor interview, market news, bazaar talk, hot stocks news, ipo news, commodities news, mutual fund news, insurance news, news wire
05 May, 2015 15:43 IST
Wheat prices likely to plunge towards 1,400-1,350: SMC Global
Source: IRIS | 07 Feb, 2013, 02.38PM
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.

Comments Post comment 
 Post Comment
Name Email
Comment
Security Code type    into this box
Related Articles
SKF signs strategic agreement with ReGen Powertech - 05-May-2015 14:38
Kotak Mahindra Bank beats Q4 estimates; profit rises 29.5% - 05-May-2015 14:26
Alstom T&D gets smart grid pilot project in Himachal pradesh - 05-May-2015 13:56
Lypsa launches two brands in studded jewellery segment - 05-May-2015 13:41
Maruti Suzuki unveils program to train over 2100 youth annually in car service and repair - 05-May-2015 13:39
Omkar Speciality bags concrete indents worth Rs 1 bn - 05-May-2015 13:29
Tata Comm to provide broadcast services for Formula One Management - 05-May-2015 13:18
Voltas launches fresh-air coolers - 05-May-2015 12:49
Jet Airways and Air Seychelles unveil codeshare partnership - 05-May-2015 12:31
CRISIL reaffirms `A1+` on City Union Bank - 05-May-2015 12:12
Tata Motors sales rise 7% in April - 05-May-2015 11:40
more...
Home  |   Shares  |   F&O  |   Mutual Funds  |   Loans  |   Insurance  |   News Centre
Wealth Tracker  |   Newsletters  |   Tax Corner  |   NRI Centre  |   Advertise
© All rights reserved. IRIS Business Services Limited
A Disclaimer