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Informist, Friday, Jan. 31, 2025

By J. Navya Sruthi

MUMBAI – Prices of wheat were down in Indore in Madhya Pradesh on low demand, while those in Navi Mumbai's Vashi market were steady against the previous day, traders said. Prices of rice and maize were unchanged from the previous day.  

The price of mill quality WHEAT in Indore was down by INR 60 at INR 3,110 per 100 kg due to low demand, local trader Gaurav Kochar said. Prices have fallen in Indore continuously for three days now. As of now, only 5–10 bags of new wheat crop have started to arrive in the market, he said. 

Wheat prices are expected to remain under pressure for the next two months as arrivals of the new crop are around the corner. Prospects of higher output in the ongoing rabi season also weigh on prices, multiple traders said. 

In the current rabi season, most market participants expect wheat production to rise due to good rainfall last year 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.

Prices of wheat in Delhi were down for the second day by INR 200 at INR 3,025 per 100 kg, traders said. From the historical high of INR 3,350 per 100 kg hit during the month, prices have fallen by INR 325 per 100 kg as of Friday. 

Prices of the same quality wheat in Navi Mumbai's Vashi market were steady at INR 3,400 per 100 kg, local wholesale dealer Devendra Vora said. Traders said weather at the time of harvest of the crop plays a very crucial role in deciding the production. 

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.

The price of sonam RICE from Gujarat was steady at INR 5,300 per 100 kg in the Vashi market, according to wholesale dealer 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.  End

Edited by Deepshikha Bhardwaj

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