India Grain
Maize unch, likely to fall next week; most mkts shut for Diwali
This story was originally published at 19:37 IST on 30 October 2024
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By J. Navya Sruthi
MUMBAI – Prices of maize in Karnataka's Davanagere were steady Wednesday, traders said. Prices of maize in the benchmark market are likely to fall next week as arrivals are expected to rise after Diwali, they said. Prices of wheat and rice were unavailable as key markets were shut for Diwali, the traders said.
MAIZE prices in Davanagere were unchanged at INR 1,800-2,200 per 100 kg with arrivals also steady from the previous day at 20,000 bags (1 bag = 60 kg), Shiva Kumar, a local trader, said.
Maize prices are likely to fall next week as traders expect arrivals to rise after Diwali. So far, maize arrivals in Davanagere have been low, at 3,000-6,000 bags (1 bag = 60 kg), due to the recent rains in Karnataka. The rainfall resulted in fungus on the grain and higher moisture content of 25-32%. As the rains have stopped, arrivals are likely to increase and the moisture content in the grain will also come down, Kumar said.
The markets in Davanagere will be shut from Thursday for Diwali and will reopen Monday, Kumar said. The markets in Kota, Rajasthan, were shut from Tuesday for Diwali, traders said. The markets will reopen Monday. The markets at Vashi near Mumbai were open Wednesday, but no trade took place owing to the lack of labourers.
WHEAT prices were steady at Vashi at INR 3,150 per 100 kg, wholesale trader Devendra Vora said. The price of Kolam RICE was steady at INR 6,000-6,200 per 100 kg, Vora said. The price of 1509 basmati rice was also steady at INR 7,300-7,800 per 100 kg, he said. End
Edited by Rajeev Pai
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