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Informist, Monday, Aug 12, 2024

By J. Navya Sruthi

MUMBAI – Prices of wheat were down slightly in Indore but steady in Kota and Vashi markets today, traders said. Prices of rice were steady, they said. 

Prices of mill-quality WHEAT in Kota, Rajasthan, were steady from Saturday at 2,600-2,650 rupees per 100 kg and arrivals were at 4,000 bags (1 bag = 50 bags), Aniket Mehta, a local trader said. Prices are seeing an upside owing to more demand and lower supply, Mehta said.

Arrivals fall during the rainy season as farmers are cautious about moisture in the grain and do not get the crop to the mandis, Mehta said. The required moisture in the grain is 14%. Firm festival demand is likely to support prices, traders said.

Wheat prices in Indore, Madhya Pradesh, were slightly down at 2,695-2,722 rupees per 100 kg from 2,712-2,734 rupees per 100 kg on Saturday, Lavish Shah, a local trader, said. Arrivals were higher by 700 bags to 1,718 bags (1 bag = 100 kg), Shah said. Prices fell today owing to increased arrivals, he said.  

Prices of mill-quality wheat were steady from the previous day in Vashi, near Mumbai, at 2,850 rupees per 100 kg, Devendra Vora said. Prices rose on Saturday by 100 rupees due to festival demand and uncertainty about the government's open market sales scheme, Vora said.

The all-India average wholesale price of wheat was 2,766.32 rupees per 100 kg, down 19.09 rupees from 2,785.41 rupees per 100 kg on Sunday, according to the Department of Consumer Affairs.

Prices of basmati RICE were steady at 8,000-8,100 rupees per 100 kg in Vashi, said Vora.

The all-India average wholesale price of rice was 3,888.48 rupees per 100 kg, down 29.48 rupees from 3,917.96 rupees per 100 kg on Sunday, according to the consumer affairs department.

Meanwhile, paddy acreage in the kharif season underway was up 4.3% on year at 33.12 mln ha as of today, according to data from the agriculture ministry. Maize acreage was up by 7.6% on year at 8.52 mln ha, the data showed.

End

Edited by Rajeev Pai

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