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Informist, Thursday, Nov. 14, 2024

By J. Navya Sruthi

MUMBAI – Prices of wheat in Rajasthan's Kota fell slightly Thursday due to low demand, traders said. Prices of rice and maize were steady in key markets in the country, they said. 

Prices of mill-quality WHEAT were down by INR 10-INR 15 to INR 2,835 per 100 kg in Kota due to low demand, Aniket Mehta, a local trader, said. However, the downside is restricted due to falling arrivals in the domestic market. Arrivals in the market were largely unchanged from the previous day at 7,000 bags (1 bag = 50 kg), but lower than 8,000 bags a week ago.    

However, prices of the same quality wheat were steady in Mumbai's Vashi market at INR 3,300 per 100 kg, Devendra Vora, a wholesale dealer, said. 

Prices of RICE were steady at INR 5,500-INR 6,400 per 100 kg in Bhavanipuram, Vijayawada in Andhra Pradesh, due to lack of cues, said Ravi Shankar, a local trader. Prices of new basmati rice were steady in Mumbai's Vashi market at INR 6,000-INR 6,400 per 100 kg, Vora said. Prices of kolam rice were also steady at INR 6,200-INR 6,300 per 100 kg, he said. 

Meanwhile, rice stocks in the Centre's pool were at a 20-year high of 29.7 million tonnes as of Nov. 1, up 48% on year, but down 4.4% from the previous month, according to the data on the Food Corp of India's website. The current rice stocks are far above the Oct-Dec buffer norm of 10.25 million tonnes – operational stock of 8.25 million tonnes and strategic reserve of 2 million tonnes. 

Prices of MAIZE were steady in Karnataka's Davanagere at INR 1,600-INR 2,200 per 100 kg. Arrivals were steady from the previous day at 15,000-20,000 bags (1 bag = 60 kg), said Shiva Kumar, a local trader. Arrivals are likely to stay in the same range from now and the moisture content in the grain is 18-22%, the trader said.  End

Edited by Avishek Dutta

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