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Informist, Monday, Feb. 10, 2025

By J. Navy Sruthi

MUMBAI – Prices of wheat, rice, and maize were steady in key markets in the country, traders said. Prices of wheat are likely to remain steady till the end of this month and are expected to fall from next month if the weather in February is favourable to the crop, traders said. So far, there are no issues with the wheat crop, they said, adding they expect higher production this year. 

Prices of WHEAT were unchanged in Indore at INR 3,120 per 100 kg, local trader Gaurav Kochar said. Wheat prices were steady in Navi Mumbai's Vashi market at INR 3,300 per 100 kg, wholesale dealer Devendra Vora said. However, those in Delhi were down by INR 35 at INR 3,110 per 100 kg, traders said. 

Prices are likely to remain rangebound with movement of INR 50-INR 100 per 100 kg on either side, Vora said. However, from the begnning of next month, wheat prices are expected to fall close to the minimum support price of INR 2,425 per 100 kg as arrivals of the new crop start. "Wheat prices are expected to fall to INR 2,500 per 100 kg in local markets in April," Kochar said.  

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 was 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.

Rice prices are likely to continue at the same level till August with a movement of INR 100-INR 200 per 100 kg on either side, Shankar said. "Though new crop arrivals have started, prices remained steady as the millers are sell the new crop after drying and giving steam to the grain, because of which prices remained steady," he said. 

Prices will rise only if the government allows exports of non-basmati broken rice exports, Shankar said. "The government will not allow broken rice exports as it needs to meet the requirement and demand for all the welfare schemes," he said.  

Prices of MAIZE at Davanagere in Karnataka were steady at INR 2,000-INR 2,380 per 100 kg. Arrivals were also flat at 2,000 bags (1 bag = 60 kg), local trader Shiva Kumar said.  End

Edited by Avishek Dutta

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