More Stories

Informist, Wednesday, Jan. 1, 2025

By J. Navya Sruthi

MUMBAI – Prices of wheat at Indore in Madhya Pradesh rose on Wednesday due to firm demand and supply shortage, traders said. Wheat prices are likely to rise by INR 100 per 100 kg in January, they said. Prices of rice and maize were steady, traders said.  

Prices of mill-quality WHEAT were up by INR 30 at INR 3,060-INR 3,200 per 100 kg at Indore in Madhya Pradesh, local trader Gaurav Kochar said, adding that prices rose because of 'good' demand and supply shortage. The trader expects wheat prices to move up by INR 70-INR 100 per 100 kg in January, as usually the demand picks up during this month.

However, prices of the same quality wheat were steady at INR 3,350 per 100 kg in Navi Mumbai's Vashi mandi, said Devendra Vora, a local wholesale dealer. Wheat prices are unlikely to fall to the minimum support price level, which is INR 2,425 per 100 kg, till the second or the 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 MAIZE at Davanagere in Karnataka were steady at INR 2,000-INR 2,380 per 100 kg and arrivals were also steady at 2,000 bags (1 bag = 60 kg), local trader Shiva Kumar said. The trader expects maize prices 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 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.  End

Edited by Akul Nishant Akhoury

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. 2025. All rights reserved.