India Grain
Steady; maize seen down next week on likely high supply
This story was originally published at 18:23 IST on 26 September 2024
Register to read our real-time news.Informist, Thursday, Sep 26, 2024
By J. Navya Sruthi
MUMBAI – Prices of maize, wheat, and rice remained unchanged from the previous day today in key markets across the country, according to traders. Prices of maize are seen going downward next week as arrivals are likely to increase, they said.
MAIZE prices were steady in Karnataka's Davanagere market at 1,600-2,500 rupees per 100 kg, Shiva Kumar, a local trader said. Arrivals were also steady at 2,000 bags (1 bag = 60 kg), he said. Kumar expects the price range to be 2,000-2,200 rupees per 100 kg by next week as arrivals are expected to increase. Currently, there is no damage caused to the harvested crop due to heavy rains, Kumar said. However, moisture content in grains remains higher than 30% when only 14% is acceptable, he said.
In Telangana's Nizamabad, maize prices rose to 1,706-2,462 rupees per 100 kg today, from 1,640-2,442 rupees on the previous day, Amrutlal Kataria, a local trader said. Moisture content in the grain was 16-27%, he said, adding that prices rose as most of the arrivals were damaged due to rain.
Prices of mill-quality WHEAT in the benchmark market of Kota, Rajasthan, were steady at 2,675-2,700 rupees per 100 kg today, local trader Aniket Mehta, said. Arrivals were down by 4,000 bags to 16,000 bags (1 bag = 50 kg), Mehta said. Mill-quality wheat prices remained unchanged in Mumbai's Vashi mandi today at 2,975-3,000 rupees per 100 kg, said Devendra Vora, a wholesale broker.
Prices of basmati RICE were also steady today in Vashi mandi at 7,300-7,400 rupees per 100 kg, Vora said. Rice production in 2023-24 is pegged at a record 137.8 mln tn, up 2.1 mln tn from last year, according to the government's final estimates. End
Edited by Deepshikha Bhardwaj
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