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Informist, Monday, Dec. 30, 2024

By J. Navya Sruthi 

MUMBAI – Prices of maize, wheat and rice were steady Monday in key markets in the country due to a lack of new cues, traders said. Maize prices are likely to fall by INR 100 per kg next week on new crop arrivals, while wheat may continue to be firm in the near term, they said. 

Prices of MAIZE at Davanagere in Karnataka were steady at INR 2,000-INR 2,380 per 100 kg and arrivals were down by 2,000 bags at 2,000 bags (1 bag = 60 kg), local trader Shiva Kumar said. Arrivals were low on Monday due to cloudy weather, he said. 

Prices of maize are likely to fall by INR 100 per 100 kg next week as arrivals have started in Tamil Nadu, Kumar said. Currently, moisture content in the grain in Tamil Nadu is very high and is likely to decrease next week, which will attract consumers, he said. 

Prices of mill-quality WHEAT were steady at Kota in Rajasthan at INR 2,875-2,900 per 100 kilograms, Aniket Mehta, a local trader, said. Arrivals were also steady from the previous day at 5,000 bags (1 bag = 50 kg). Mehta expects wheat prices in Kota to reach INR 3,000 per 100 kg in 10–15 days amid rising demand and shortage in the market. 

Prices of mill-quality wheat in Navi Mumbai's Vashi market were steady at INR 3,300 per 100 kg, Devendra Vora, a local wholesale dealer, said. Wheat prices are unlikely to see any major fall till April second or third week of April, Vora said, adding that there is an actual shortage of the grain in the country and the pipeline is completely 'dry'.  

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

Any change in rice prices can be expected only after Jan. 10 as currently there are no new orders from international customers, Vora said. Export orders of the grain are likely to rise after Jan. 10, he added.  End

Edited by Saji George Titus

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