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Informist, Tuesday, Feb. 4, 2025

By J. Navya Sruthi

MUMBAI – Prices of wheat were down in Navi Mumbai's Vashi market while prices in Delhi saw an increase, traders said. Prices of maize and rice remained steady compared to the previous day in key markets across India, according to the traders. 

Prices of mill-quality WHEAT in the Vashi market fell by INR 50 at INR 3,300 per 100 kg, wholesale dealer Devendra Vora said. Prices of the same quality wheat remained steady at INR 3,090 per 100 kg in Indore, Madhya Pradesh, from the previous day, local trader Gaurav Kochar said. Wheat prices in Indore held steady on Tuesday, following a decline that lasted for more than a week, and were down by over INR 200 per 100 kg from the all-time high of INR 3,300 hit in January.

However, wheat prices rose by INR 25 per 100 kg to INR 3,100 per 100 kg in Delhi, traders said. According to experts, prices of wheat across India are likely to rebound and stay steady as fears about loss of crop yields offset prospects of higher production this year. As per data from the Department of Agriculture and Farmers' Welfare, wheat acreage as of Friday rose to 32.49 million hectares, 2.1% on year.

The experts predict that wheat prices in Delhi will range between INR 3,000 and INR 3,200 per 100 kg in the near term before falling to INR 2,600 to INR 2,800 per 100 kg from March to May, as new arrivals begin. Similarly, prices of the staple grain in key markets like Kota in Rajasthan and Indore are expected to trade at INR 2,800 per 100 kg in the near term and then fall to INR 2,500 per 100 kg during Mar-May.  

Experts said the production depends on the weather conditions as February is expected to be warmer, according to the India Meteorological Department, which may affect wheat yields. 

Prices of MAIZE at Davanagere in Karnataka were steady at INR 2,000-INR 2,380 per 100 kg. Arrivals also remained steady at 2,000 bags (1 bag = 60 kg), local trader Shiva Kumar said. Arrivals are likely to decline in the near term as the crop with farmers has been almost sold out, Kumar said, adding that prices are likely to be steady this week as demand has also fallen slightly.

Prices of sonam RICE from Gujarat remained steady at INR 5,300 per 100 kg in Vashi market, according to wholesale dealer Vora. Prices of kolam rice from Nagpur were also steady at INR 5,300-INR 5,400 per 100 kg while the price of new basmati rice remained stable at INR 6,000-INR 6,400 per 100 kg, Vora said. Prices of sona masoori rice also remained steady at INR 5,500-INR 6,400 per 100 kg at Bhavanipuram in Vijayawada, Andhra Pradesh, local trader Ravi Shankar said.  End

Edited by Subhojit Sarkar

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