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Informist, Wednesday, Nov. 6, 2024

By Pallavi Singhal

NEW DELHI – Prices of wheat rose slightly in Rajasthan's Kota market due to lower market arrivals Wednesday. However, prices of maize and rice were steady in key spot markets across the country, traders said. Prices of maize and rice are likely to stay range-bound with a slight downward bias in the coming days due to higher arrivals, they said. 

Prices of MAIZE were steady in Karnataka's Davanagere at INR 1,600-2,200 per 100 kg. Arrivals in the market were also steady at 20,000 bags (1 bag = 60 kg), Shiva Kumar, a local trader said. Arrivals are expected to increase to around 30,000 bags from next week, which will weigh on the grain's prices, Kumar said.  

Currently, wet maize, with 18% moisture content is being sold at INR 2,200 per 100 kg, Kumar said. From next week onwards, the moisture content is expected to fall to 16% and this dry grain will be sold at INR 2,200 per 100 kg, he said. Continuous rains in the region had led to the high moisture content in the grain. 

Prices of mill-quality WHEAT in Rajasthan's Kota rose slightly by INR 50 to INR 2,850 per 100 kg, said Aniket Mehta, a local trader. Prices rose as arrivals in the market fell by 2,000 bags (1 bag = 50 kg) to 6,000 bags, Mehta said. Prices of the mill-quality wheat were steady in Mumbai's Vashi market at INR 3,300 per 100 kg on Wednesday, said Devendra Vora, a wholesale trader. 

Prices of RICE were steady in the Vashi market at INR 6,000-6,200 per 100 kg, Vora said. Basmati rice prices were also steady at INR 7,300-7,800 per 100 kg, he said. Rice prices are likely to remain range-bound with a downward bias this month because of new crop arrivals in the market and rice millers starting to mill paddy, Vora said.

Rice prices at Bhavanipuram in Vijayawada, Andhra Pradesh were also steady at INR 5500-6400 per 100 kg. The new crop is yet to be harvested and prices are likely to remain steady till the new crop arrives, Ravi Shankar, a local rice trader said.  End 

Edited by Saji George Titus

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