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Informist, Thursday, Sep 19, 2024

By J. Navya Sruthi

MUMBAI – Prices of maize were steady today in Karnataka's Davanagere, and those of wheat were slightly down in Rajasthan's Kota, traders said. Wheat prices fell as arrivals rose today. However, the downside in wheat prices is limited as the uncertainty about the government's weekly electronic auction still prevails, traders said. 

MAIZE prices were steady in Davanagere at 2,000-2,500 rupees per 100 kg and arrivals surged to 300 bags (1 bag = 60 kg) from 50-60 bags on Wednesday, Shiva Kumar, a local trader said. Currently, the new crop has a moisture content higher than 30%, while 14% is acceptable, he said.   

Kumar expects maize production to double during the current kharif season due to favourable weather so far in the state. However, if there will be any abnormal weather conditions such as heavy rainfall, it can lead to crop damage, which is at the harvest level, Kumar said. 

According to the third advance estimates, Karnataka's maize production for 2023-24 (Jul-Jun) is pegged at 5.49 mln tn, 7% lower from 5.91 mln tn a year ago. India's maize output is also seen lower at 35.7 mln tn during 2023-24, compared to 38.1 mln tn a year ago. 

In the last kharif season, Karnataka witnessed drought conditions, which weighed on maize sowing and damaged around 80% of the crop sown. Prices of the golden grain hit an all-time high of 2,800 rupees in the state last year. 

Meanwhile, WHEAT prices in Rajasthan's Kota were down 25 rupees at 2,570-2,590 rupees per 100 kg, and arrivals were up 1,000 bags at 8,000 bags (1 bag = 50 kg), Aniket Mehta, a local trader said.

On Wednesday, 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.    

Moving to rice, the government is likely to resume exports of non-basmati rice as the stocks with the government are at a 20-year high. Deliberations are going on, and a decision will be taken after the paddy crop situation is clear, Devesh Chaturvedi, secretary, Department of Agriculture & Farmers Welfare, said on the sidelines of a media briefing on the achievements of the agriculture ministry in 100 days of the National Democratic Alliance government's third term.  

In July 2023, the government had prohibited the export of non-basmati white rice due to concern over lower paddy acreage and to control soaring rice prices, and currently allows exports only through government-to-government deals.  End

Edited by Manisha Baxla

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