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Informist, Monday, Jan. 13, 2025

By Shreya Shetty

MUMBAI – Prices of wheat, rice, and maize were unchanged in key spot markets of the country Monday, traders said. Wheat prices, which have been at peak levels since last week, are expected to fall on the arrival of the new rabi crop in mid-February, they said.

Prices of mill-quality WHEAT were steady at INR 3,120-INR 3,260 per 100 kg at Ashoknagar in Madhya Pradesh, local trader Gaurav Kochar said. Prices are expected to begin a downtrend on arrivals of the new rabi crop in February, he said. As of Jan. 3, wheat acreage in the current rabi season was up 1.7% on year at 32.0 million hectares, according to data from the Department of Agriculture and Farmers Welfare.

Prices of mill-quality wheat were steady at INR 3,450 per 100 kg in the Navi Mumbai market, wholesale dealer Devendra Vora said, adding that prices are likely to remain elevated till the new crop starts arriving.

Prices of mill-quality wheat rose in Delhi by INR 50 from Friday to again touch the all-time high of INR 3,300 per 100 kg reached on Jan. 7, up 6% on year, traders said. The previous all-time high price of wheat was INR 3,250 per 100 kg, reached in January 2023.

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. Rice prices are likely to remain steady till the end of the month, Shankar said. Prices of rice will not change till the end of the week as the market is shut since Saturday for Makar Sankranti and other festivals, he said.

After the festivals, new crop arrivals will begin, but that will not weigh on prices as there would be sufficient demand, he added. Further, demand for the daily staple from most of the importing countries will also rise by the month's end, supporting prices, Vora said.

As of Jan. 3, the acreage under paddy in the current rabi season was up nearly 1% on year at 1.69 million hectares, according to data from the department.

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, he said.

Prices of MAIZE at Davanagere in Karnataka were steady at INR 2,000-INR 2,380 per 100 kg. Arrivals were also steady at 2,000 bags (1 bag = 60 kg), local trader Shiva Kumar said. The market will be shut tomorrow for Makar Sankranti, he said. 

As of Jan. 3, the acreage under maize in the current rabi season rose nearly 8.4% on year to 2.2 million hectares, according to data released by the department.  End

Edited by Rajeev Pai

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