The effect of rising inflation is also affecting the plate of the common man. Prices from edible oil to potato and tea leaves have risen in one year. Flour prices have reached a 12-year high due to the increase in wheat prices. Due to this, bread, biscuits and products made from flour will also become expensive soon.
According to consumer ministry data, wheat prices have gone up by 46 per cent so far this year. Its Minimum Support Price (MSP) is Rs 2015 per quintal. Its price in the market is 20 percent more than the MSP. Similarly, the price of flour had reached Rs 32.38 per kg in April. This is the highest since January 2010. With the rise in wheat, FMCG companies can increase the prices of flour products by up to 15 percent in the coming time. The ministry says that in the last one year, everything on the common man’s plate has become expensive.
Russo-Ukraine war raised concerns
According to experts, the decrease in wheat production due to the Russo-Ukraine war has led to a big increase in the prices of flour. In addition, the demand for Indian wheat in overseas markets remained high due to supply disruptions due to the war. Due to the rapid increase in the price of diesel, the prices of wheat and flour are also touching the sky.
- However, the government says that this year, there may be some relief due to higher production of wheat.
- The government has set a target of 110 million tonnes of wheat production for the financial year 2021-22. This is higher than the 109 million tonnes estimated in 2020-21.
Tomato prices highest increase
|Product||May 9, 2021||May 9, 2022||increase|
|Tea leaf||264.94||284.75||7.07 per cent|
|potato||17.76||22.46||26.46 per cent|
|peanut oil||175.73||187.11||6.47 per cent|
|mustard oil||164.87||185.52||12.52 per cent|
|Vegetable oil||130.67||163.45||25.08 percent|
|soya oil||147.74||170.33||15.29 percent|
(Source: Ministry of Consumer Affairs, Price per kg and litre)
Price increased by 30 percent in one year
According to the data, the price of wheat had increased to Rs 32.78 per kg on Saturday. This is 9.15 per cent higher than Rs 30 a year ago. As per the data available at 156 centres, the price of flour was highest at Rs 59 per kg in Port Blair on Saturday, while it was lowest at Rs 22 per kg in West Bengal.