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Informist, Thursday, Aug 1, 2024

By J. Navya Sruthi

MUMBAI – Prices of wheat, rice, and maize were steady in the key markets across the country, traders said. The government today allowed the rice-deficient states to buy the grain at 2,800 rupees per 100 kg directly from the Food Corp of India, without participating in an electronic auction. 

MAIZE prices in Chhindwara, Madhya Pradesh, were steady from the previous day at 2,550-2,625 rupees per 100 kg, a local trader said. Traders expect prices to decline, as the new crop arrivals will start from mid-August. 

At 1858 IST, the most-active December corn contract on the Chicago Board of Trade was at $3.98 per bushel (1 bushel = 27.2 kg), down 0.4% from its previous close.

Prices of mill-quality WHEAT in Indore, Madhya Pradesh, were steady from the previous day at 2,680-2,750 rupees per 100 kg, Lavish Shah, a local trader, said. Arrivals were also steady at 1,200 bags (1 bag = 100 kg), Shah said. Prices of mill quality wheat in Vashi, near Mumbai, were steady at 2,750 rupees per 100 kg, Devendra Vora, a wholesale broker, said.

The all-India average wholesale price of wheat was 2,784.39 rupees per 100 kg, largely unchanged from 2,784.85 rupees per 100 kg on Wednesday, according to the Department of Consumer Affairs. At 1858 IST, the most-active September wheat contract on the Chicago Board of Trade was at $5.31 per bushel, up 0.7% from its previous close.

Prices of basmati RICE were steady at 8,000-8,100 rupees per 100 kg in Vashi, Vora said. The all-India average wholesale price of rice was 3,894.91 rupees per 100 kg, down 19.69 rupees from 3,914.6 rupees per 100 kg on Wednesday, according to the consumer affairs department.

End

US$1 = 83.72 rupees

Edited by Aditya Sakorkar

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