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Informist, Tuesday, Jan. 28, 2025

By J. Navya Sruthi

MUMBAI – Prices of grains were mixed Tuesday with wheat down and rice and maize steady in key markets in the country, traders said. Maize traders expect prices to fall by at least INR 100 per 100 kg this week due to rising supply. 

The price of MAIZE at Davanagere in Karnataka was 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. Maize prices are likely to fall by at least INR 100 per 100 kg this week as arrivals have started in Tamil Nadu, he said. Usually, the demand for maize in Karnataka falls when arrivals start in Tamil Nadu.

So far, maize arrivals in Tamil Nadu had moisture content of more than 14%, which is why prices of the grain were steady in Karnataka. The ongoing rainfall in Tamil Nadu led to higher moisture in the grain available and aided demand for Karnataka maize. Cloudy weather makes the maize drying process difficult, pulling down prices due to the high moisture content.   

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. The 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. The price of Sona Masoori rice was also unchanged at INR 5,500-INR 6,400 per 100 kg at Bhavanipuram in Andhra Pradesh, local trader Ravi Shankar said.

The price of mill-quality WHEAT in Indore in Madhya Pradesh were down by INR 10 at INR 3,220 per 100 kg as arrivals of the new crop are about to start, local trader Gaurav Kochar said. Price of the same quality wheat in the Vashi market was steady at INR 3,450 per 100 kg, local wholesale dealer Vora said. The price of wheat in Rajasthan's Kota was also steady at INR 3,000 per 100 kg and arrivals were unchanged from the previous day at 2,000 bags (1 bag = 50 kg). 

In the current rabi season, most market participants expect wheat production to rise due to good rainfall and an increase in acreage. As of Monday, wheat acreage was 32.44 million hectares, up 2.8% on year. The acreage also exceeded the normal area of 31.23 million hectares, which is the 10-year average for the season.  End

Edited by Saji George Titus

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