Wheat Prices May Shoot Up On Likely SC Stay

Ahmedabad: If the Supreme Court directs the Centre not to go ahead with wheat imports, then prices of the agri commodity may go up by 10-15 per cent in spot markets, according to a public interest litigation filed by activist Vandana Shiva. A three member bench constituting Chief Justice KG Balakrishnan, Justice DK Jain and Justice RV Ravindran will hear the petition on May 17. Shiva questioned the government's motive in importing inferior quality wheat at Rs 1,600 a quintal, when a better quality was available in the domestic market in the range of Rs 800-1,000 a quintal. Interestingly, Shiva also mentioned in her PIL that the 2006-07 rabi production of wheat stood at 7.36 crore tonnes against 7.3 crore tonnes in 2005-06 - more than the country's total requirement of wheat. Biren Vakil, an Ahmedabad-based expert on commodities, said the apex court will have to clear its stand on what will happen to the imported wheat awaiting approvals.