India Grain
Wheat prices up on firm demand; rice, maize steady
This story was originally published at 17:56 IST on 4 December 2024
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By J. Navya Sruthi
MUMBAI – Prices of wheat in Kota, Rajasthan, were slightly up Wednesday because of firm demand, traders said. Prices of maize and rice were steady in key markets across the country, they said.
Prices of mill-quality WHEAT rose by INR 10-15 to INR 2,800 per 100 kg due to firm demand, local trader Aniket Mehta said. Arrivals were steady from the previous day at 8,000 bags (1 bag = 50 kg), he said.
In its first e-auction Wednesday, the Food Corp. of India allocated 5,000 tonnes of wheat for Rajasthan. However, the nodal food procurement agency is yet to update the results on its website. The government has set the reserve price of fair and average quality wheat for 2024-25 (Apr-Mar) at INR 2,325 per 100 kg, and that for wheat under reduced specifications at INR 2,300 per 100 kg.
Prices of MAIZE in Davanagere, Karnataka, were steady at INR 2,000-INR 2,350 per 100 kg from the previous day, said local trader Shiva Kumar. However, arrivals fell by 2,000 bags to 3,000 bags (1 bag = 60 kg) due to cloudy weather in the region, Kumar said. "The recent change in weather also led to a slight increase in moisture content (in the grain) to 18-20%," he said.
Prices of sona masoori RICE were steady at INR 5,500-INR 6,400 per 100 kg at Bhavanipuram in Andhra Pradesh, said local trader Ravi Shankar. Prices may fall slightly once the new crop arrives into the market, he said. The new crop should have arrived in the markets by now, but a delay in harvesting has put off the arrivals, he added. End
Edited by Ashish Shirke
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