Weekly Global Wheat Market Summary – October 20, 2024

• India: Wheat farmers in Punjab are expressing strong dissatisfaction over the central government’s recent adjustment of the Minimum Support Price (MSP), which has been increased by ₹150 to ₹2,425 per quintal. Farmers argue that this increment does not adequately cover rising production costs due to higher expenses on labor and diesel. Led by the Bharatiya Kisan Union, the farmers are pushing for a more inclusive MSP formula that factors in total production costs plus a 50% profit margin, as proposed by agricultural scientist M.S. Swaminathan. Influential leaders, including Sukhdev Singh Kokri and Jagmohan Singh, highlight the need for urgent policy revisions, citing inflation and a lack of supportive governmental measures as critical issues affecting the agricultural community’s financial stability.

These developments reflect the growing pressures on wheat farmers in India, where economic and policy adjustments are key to sustaining productivity and farmer livelihoods.

For more detailed information on the Wheat market, including crop health reports, long-term weather data, and in-depth pricing analysis, visit CropGPT. This podcast covers selected highlights for the week.