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Informist, Tuesday, Sep 3, 2024

By J. Navya Sruthi

MUMBAI – Prices of wheat, rice, and maize were steady across key markets in India today, traders said. They expect wheat prices to rise by 100 rupees per 100 kg this month due to uncertainty about the government's weekly sales.   

Prices of mill-quality WHEAT were steady at 2,600-2,625 rupees per 100 kg and arrivals were also steady at 10,000 bags (1 bag = 50 kg), local trader Aniket Mehta said. Prices in Mumbai's Vashi mandi were also steady at 2,950 rupees per 100 kg, said Devendra Vora, a wholesale broker. 

Wheat prices are likely to rise by 100 rupees per 100 kg this month if there is no news about the government's weekly electronic auctions, traders said. They added that arrivals of the grain at mandis have fallen compared to last season. Arrivals during this time are usually around 25,000 bags (1 bag = 50 kg) in Kota, but currently arrivals are barely 10,000 bags, traders said. 

Prices of basmati RICE were also steady at 7,000-7,300 rupees per 100 kg in Vashi, Vora said. As of Monday, the area under paddy, one of the most important kharif crops, was up 4% on year at 40.9 mln ha. The area under paddy so far has surpassed the normal acreage of 40.2 mln ha for the kharif season.   

Prices of MAIZE were also steady at 2,500-2,640 rupees per 100 kg in Madhya Pradesh's Chhindwara, local traders said. Traders also expect higher maize production from the current crop, as there has been no damage to the crop so far. Traders from Karnataka said most of the maize crop was healthy, and they expect a higher output this year. 
 

As of Monday, the area under maize in the country in the current kharif season was up 5% on year at 8.7 mln ha, which is also higher than the normal of 7.7 mln ha.   

End

Edited by Avishek Dutta

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