More Stories

Informist, Monday, Dec. 9, 2024

By J. Navya Sruthi

MUMBAI – Prices of wheat fell in Kota, Rajasthan, on Monday because of low demand, traders said. Prices of maize and rice remained unchanged from the previous day, traders said.

Prices of mill-quality WHEAT were down by INR 25 in Kota at INR 2,800 per 100 kg as demand was low, local trader Aniket Mehta said. Arrivals were steady from the previous day at 7,000 bags (1 bag = 50 kg), he said.

In Navi Mumbai's Vashi market, prices of the same quality of wheat were steady at INR 3,300 per 100 kg, said Devendra Vora, a wholesale dealer. Traders expect prices to rise by INR 50-75 next week. Vora sees prices higher by INR 200-300 than the current price till the arrival of the next crop, which will only be after March.

Food Corp. of India has allocated 100,000 tonnes of wheat for its second weekly auction on Wednesday, a company official told Informist. In its first weekly e-auction of the rabi marketing season 2024-25 (Apr-Mar), FCI sold 98.8% of the 100,000 tonnes of wheat on offer. The total quantity sold was 98,820 tonnes.

Prices of Sona masoori RICE were steady at INR 5,500-6,400 per 100 kg at Bhavanipuram in Andhra Pradesh, said local trader Ravi Shankar. Prices of new basmati rice were steady in the Vashi market at INR 6,000-6,400 per 100 kg, wholesale dealer Vora said. Prices of sonam rice from Gujarat were also steady at INR 5,600-5,700 per 100 kg, Vora said.

Vora said it is unlikely that prices will rise anytime soon, given the excess supply in the domestic market and tepid export demand, with few deals in the holiday season. Any change in prices can be expected only from January, he said.

Prices of MAIZE in Davanagere, Karnataka, were steady at INR 2,000-2,350 per 100 kg from the previous day, said local trader Shiva Kumar.  End

Edited by Ashish Shirke

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000  

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2024. All rights reserved.