Wheat and Rice Prices Set to Rise: Government Hikes Reserve Prices

The central government has announced a significant increase in the reserve prices for wheat and rice sold in the open market. This move is expected to impact the prices consumers pay for these essential staples.

Wheat Prices See a Sharper Increase

Wheat prices have been raised by 10.86%, marking a considerable jump. This increase could mean higher costs for bread, flour, and other wheat-based products.

Impact on Consumers

This price hike will likely affect household budgets, especially for those who rely heavily on wheat as a dietary staple.

Rice Prices Also Affected

The reserve price for rice has seen a more moderate increase of 3%. While less steep than the wheat price hike, this change will still contribute to the overall rising cost of food.

Reasons Behind the Price Hike

While the government hasn’t explicitly stated the reasons behind this decision, factors such as production costs, inflation, and market dynamics likely played a role.