More Stories

Informist, Monday, Jan. 27, 2025

By J. Navya Sruthi

MUMBAI – Prices of rice remained steady Monday and are likely to stay around the current levels in the near-term, traders said. Prices of wheat and maize were also unchanged from the previous session, they added.

The price of sonam RICE from Gujarat was INR 5,300 per 100 kg in Navi Mumbai's Vashi market, according to wholesale dealer Devendra Vora. Price of kolam rice from Nagpur was also steady at INR 5,300-INR 5,400 per 100 kg and that of new basmati rice was unchanged at INR 6,000-INR 6,400 per 100 kg, he said. According to Vora, prices of both basmati and non-basmati rice are currently low and are likely to remain at those levels for now.

The price of sona masoori rice was also unchanged at INR 5,500-INR 6,400 per 100 kg at Bhavanipuram in Vijayawada, Andhra Pradesh, local trader Ravi Shankar said. Like Vora, he too said that prices are likely to remain unchanged over the next 10 days, adding that although there is demand for the grain, arrival of the new crop is likely to keep prices unchanged.

Though Food Corp. of India has started selling rice twice a week since the start of the month, the offtake at auctions remains poor due to good supplies in the market. FCI offered 102,000 tonnes of rice on Thursday but only 42% or 43,000 tonnes was sold, data showed. Since August, FCI has sold only 1.07 million tonnes out of the 3.12 million tonnes of rice offered.

Prices of mill-quality WHEAT in Vashi market were also steady at INR 3,450 per 100 kg, local wholesale dealer Vora said. He said wheat prices are likely to remain steady with a change of INR 50-INR 100 per 100 kg. Although prices are currently steady, most traders in the market are bearish over the long-term.

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.  End

Edited by Nishant Maher

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.