New Millet Crop Arrival: What Does it Mean for Prices?

The arrival of the new millet crop in western India has caused a noticeable price drop, especially for older stocks. Prices for older millet have fallen slightly. This trend could push prices down further by USD 0,13 per kg as more millet arrives on the market. However, most traders are not likely to allow prices to drop much beyond this point.

Price Differences Across India: A Closer Look

In regions like Western Uttar Pradesh, Haryana, Rajasthan, and Madhya Pradesh, millet crops have been delayed by about 15 days. Despite this, there has been a surge in market arrivals over the past four days. This has pushed prices down even more. For instance;

• In Haryana and Punjab, the price for older millet has dropped to USD 0,30 to USD 0,30 per kg.
• In Uttar Pradesh, the new crop is trading between USD 0,27 and USD 0,27 per kg, depending on moisture levels.
• In Rajasthan’s Niwai Taluk quota line, new millet prices have fallen from USD 0,27 to USD 0,25 per kg.
• In Morena, Madhya Pradesh, traders are buying new stock at prices ranging about USD 0,27 per kg.

Government’s Role: Will it Really Change Millet Prices?

The government has set the minimum support price (MSP) for millet at USD 0,31 per kg, with plans to begin purchases from October 1. However, many believe that the government might focus on buying more soybean and paddy due to storage limitations for millet. If this happens, millet prices could drop to USD 0,12 per kg, putting the price below USD 0,25 per kg in Rajasthan’s Niwai Tonk quota line.

What’s Going On in the Eastern Millet Markets?

In the Prayagraj line, near the border areas of Eastern Uttar Pradesh and Bihar, a second millet crop is underway. Sowing has been strong here, due to previously high millet prices. This is impacting local market dynamics. Once the new millet hits USD 0,28 in Haryana and Punjab, market risks should neutralize. However, it is unlikely that the price for dry millet will fall below USD 0,28 per kg.

Conclusion: How to Stay Ahead in This Season’s Millet Market

As millet prices fluctuate with new crop arrivals and government purchases, both farmers and traders must remain alert. The market presents its challenges, but also opportunities. Staying aware of regional trends and adjusting strategies will be key to navigating this season successfully.





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