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Informist, Monday, Jul 22, 2024

By J. Navya Sruthi

MUMBAI – Prices of rice, wheat, and maize were steady today in key markets across the country, traders said. Prices of rice are likely to remain flat despite availability of the grain at a lower rate in local stores by the government, traders said.

Prices of basmati RICE were steady at 8,000-8,100 rupees per 100 kg in Vashi, near Mumbai, wholesale broker Devendra Vora said. Prices of Sona Masoori rice in Bhavanipuram, Andhra Pradesh, were unchanged at 5,500-6,200 rupees per 100 kg, Ravi Shankar, a local trader, said.

"The open market prices are likely to remain steady despite the (state) government's announcement of rice at lower prices," Shankar said, adding that the quality of the rice sold by the government is inferior.

Due to high rice prices in the state, Food and Civil Supplies Minister Nadendla Manohar, on Jul 11, announced that the state government has set up 284 special counters in rythu bazars to sell rice and tur dal at lower prices than the market in Andhra Pradesh, Deccan Chronicle reported. Tur dal is sold at 160 rupees per kg while the steamed BPT rice is available at 49 rupees a kg and raw BPT rice is sold at 48 rupees a kg at these counters, the report said.
 

The all-India average wholesale price of rice was 3,947.51 rupees per 100 kg, up 8.78 rupees from 3,938.73 rupees on Sunday, according to the consumer affairs department.

Prices of mill-quality WHEAT in Indore, Madhya Pradesh, were steady at 2,650-2,680 rupees per 100 kg, local trader Lavish Shah said. Arrivals were higher by 800 bags at 1,800 bags (1 bag = 100 kg), he said. Arrivals rose as the mandi reopened today after being shut on Saturday and Sunday.

Prices of mill-quality wheat in Vashi were steady at 2,750 rupees per 100 kg, Vora said. The all-India average wholesale price of wheat was 2,790.44 rupees per 100 kg, 3.11 rupees down from 2,821.54 rupees on Sunday, according to the department of consumer affairs.

At 1610 IST, the most-active September wheat contract on the Chicago Board of Trade was $5.5 per bushel, up 0.9% from its previous close.

Prices of MAIZE in Chhindwara, Madhya Pradesh, were unchanged from the previous day at 2,550-2,675 rupees per 100 kg, a local trader said. At 1610 IST, the most-active December corn contract on the Chicago Board of Trade was $4.1 per bushel (1 bushel = 27.2 kg), up 1.7% from its previous close.

End

US$1 = 83.66 rupees

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

Edited by Aditya Sakorkar

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