India Grain
Maize steady in Davanagere, wheat tad down in Kota
This story was originally published at 21:38 IST on 18 September 2024
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By Taniva Singha Roy and Sayantan Sarkar
NEW DELHI – Maize prices in the key spot market of Davanagere in Karnataka were steady for the second day in a row today as arrivals were limited, traders said.
MAIZE prices in Davanagere were in the range of 2,000-3,000 rupees per 100 kg, said Shiva Kumar, a local trader. Arrivals were limited as the new crop has moisture content higher than 30%, he said. Today, only 50–60 bags of maize hit the spot market.
Kumar said arrivals of maize would start rising in the next 15 days. When arrivals are around 5,000 bags, prices are likely to fall below 2,000 rupees per 100 kg, he said.
Meanwhile, WHEAT prices fell 20 rupees from the previous trading day to 2,580-2,600 rupees at Kota, Rajasthan, said Aniket Mehta, a local trader. Arrivals were at 7,000 bags (1 bag = 50 kg), he said. The market was shut on Tuesday for Anant Chaturdashi.
Wheat prices are likely to be range-bound with an upward bias for the next 10–15 days, traders said. Today, Food Secretary Sanjeev Chopra said to check the rise in wheat prices, a committee of ministers has approved an additional allocation of 3.5 mln tn of the staple grain under the Pradhan Mantri Garib Kalyan Anna Yojana till March.
Mehta said the government has confirmed that there will be no open market sales of wheat in October after it today raised the allocation of wheat under the free food scheme.
Additionally, Chopra said the government is considering lifting the ban on exports of non-basmati white rice. The government in July last year prohibited the export of non-basmati white rice owing to concern about lower paddy acreage and to control soaring domestic prices. End
Edited by Rajeev Pai
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