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Informist, Wednesday, Oct. 16, 2024

By J. Navya Sruthi

MUMBAI – Prices of wheat in Rajasthan's Kota were slightly up due to a rise in demand, traders said. Prices of rice and wheat in Mumbai's Vashi market were steady today. Maize prices were unavailable as markets in Karnataka's Davanagere were shut due to a student protest, traders said.    

Students and workers of UBDT College of Engineering at Davanagere were protesting Wednesday and called for a strike in the city, a local journalist said. This was mainly about the college's decision regarding privatisation of 50% of the institute, another journalist said. 

Markets in Karnataka will remain shut Thursday as well on account of "Pargat Diwas" or "Valmiki Jayanti", Shiva Kumar, a local maize trader, said. 

Prices of mill-quality WHEAT rose slightly in Rajasthan's Kota, by INR 10-15 per 100 kilograms, to INR 2,700-2,725 per 100 kg due to firm demand, Aniket Mehta, a local trader, said. However, wheat prices in Mumbai's Vashi market were unchanged at INR 3,100 per 100 kg, said Devendra Vora, a wholesale trader.  

In Kota, arrivals also rose to 14,000 bags (1 bag = 50 kg) from 8,000 bags on the previous day, Mehta said. "Arrivals rose as rainfall has stopped in the area," Mehta said. 

There was mixed talk in wheat markets as a few traders see prices rising till the next crop arrivals, which is only in April, and a few expect prices to correct as they are very high. The upside in wheat prices is expected due to depleting wheat stocks at the Centre's pool. Meanwhile, the government has increased the minimum support price of wheat from 2025-26 (Apr-Mar) to INR 2,425 per 100 kg from INR 2,275 per 100 kg in 2024-25. 

Prices of RICE were steady in Vashi market at INR 6,000-INR 6,200 per kg, Vora said. Basmati rice prices were also steady at INR 7,300-INR 7,800 per 100 kg, Vora said. Similarly, prices of Sona Masoori rice, a non-basmati premium variety, were steady at INR 6,400 per 100 kg in Vijayawada's Bhavanipuram in Andhra Pradesh, Ravi Shankar, a local trader, said.  End

Edited by Deepshikha Bhardwaj

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