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Informist, Wednesday, Oct. 9, 2024

By J. Navya Sruthi

MUMBAI – Prices of maize, rice, and wheat were steady Wednesday in the key markets across the country, traders said. Maize traders expect prices to fall after Dussehra, next week, as the arrivals of grain are seen increasing. 

Prices of MAIZE in Karnataka's Davanagere were steady Wednesday from the previous day at INR 1,800-2,200 per 100 kilograms, Shiva Kumar, a local trader said. Arrivals were also the same as Tuesday at 10,000 bags (1 bag = 60 kg), he said. He expects arrivals to increase to 15,000-20,000 bags after Dussehra, which falls on Saturday this year. Following the increase in arrivals, he added that prices are also likely to fall by INR 200 from the current level. 

During the kharif season in 2024, maize acreage across the country was above normal due to excess rainfall in key growing states. As of Sept. 23, maize acreage in India rose 4% on year to 8.8 million hectares, which is also higher than the season's normal of 7.7 million hectares.  

In Telangana's Nizamabad, maize prices were largely unchanged at INR 1,850-2,403 per 100 kg from Tuesday, said Amrutlal Kataria, a local trader. Moisture content in the grain was 15-25%, he said. Arrivals were also steady at 5,800 bags (1 bag = 60 kg), he said. He added that starting Thursday, the Nizamabad market would be closed till Sunday on account of Dussehra.

WHEAT prices were steady in Kota, Rajasthan, at INR 2,700 per 100 kg, said Aniket Mehta, a local trader. Arrivals were also steady at 10,000 bags (1 bag = 50 kg). Prices of wheat in Mumbai's Vashi market were also unchanged from Tuesday at INR 3,100 per 100 kg, said Devendra Vora, a wholesale trader. Vora expects prices to remain firm till this month-end due to festival demand. 

Prices of RICE were steady in Mumbai's Vashi market at INR 6,000-6,200 per kg, Vora said. Basmati rice prices were also steady at INR 7,300-7,800 per 100 kg, Vora said. 

The Union Cabinet has allocated INR 170.82 billion to continue supplying fortified rice under various welfare schemes from July to December 2028. To address micronutrient deficiencies, the Centre had initiated rice fortification in 2022 and will continue to fund the programme fully as part of the Pradhan Mantri Garib Kalyan Anna Yojana, the Cabinet said in a release Wednesday.

Rice fortification involves the addition of micronutrients—iron, folic acid, and vitamin B12 to rice post-harvest to restore the micronutrients lost during processing.  End

Edited by Akul Nishant Akhoury

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