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Informist, Monday, Dec. 16, 2024

By J. Navya Sruthi

MUMBAI – Prices of wheat rose Monday in Kota, Rajasthan, on firm demand, traders said. Prices of rice and maize were steady in domestic markets.

Prices of mill-quality WHEAT rose by INR 25 in Kota to INR 2,825-INR 2,850 per 100 kg on firm demand, local trader Aniket Mehta said. The prices rose despite arrivals going up by 3,000 bags from the previous trading day to 8,000 bags (1 bag = 50 kg). "Arrivals usually rise on Monday as the mandi remains shut on Sunday," he said.

However, in Navi Mumbai's Vashi market, prices of the same quality wheat were steady at INR 3,300 per 100 kg, said wholesale dealer Devendra Vora. Vora sees prices remaining steady till the end of December as wheat prices are already high and will start rising from January again. Prices of mill-quality wheat in Indore, Madhya Pradesh, were also steady at INR 2,895-INR 3,020 per 100 kg, local trader Gaurav Kochar said. 

Meanwhile, wheat sowing in Rajasthan is better than last year and most farmers have shifted to wheat and garlic from other crops. Also, the all-India wheat sowing was up 2.3% on year at 23.95 million hectares as of Dec. 9. 

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 of new basmati rice were steady in the Vashi market at INR 6,000-INR 6,400 per 100 kg, wholesale dealer Vora said. Prices of sonam rice from Gujarat were also steady at INR 5,600-INR 5,700 per 100 kg, Vora said.

Exports of rice have been stagnant so far due to low demand in international markets, Vora said. Exports of rice would increase after New Year, some time around Jan. 5-6, he added. The US Department of Agriculture has pegged India's 2024-25 (Apr-Mar) rice exports at 21.5 million tonnes, up from 14.43 million tonnes last year, according to the department's World Agricultural Supply and Demand Estimates report for December.

Prices of MAIZE in Davanagere, Karnataka, were at INR 2,000-INR 2,350 per 100 kg, steady from the previous day, said local trader Shiva Kumar. Arrivals were also steady at 3,000 bags (1 bag = 60 kg), the trader said.  End

Edited by Rajeev Pai

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