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Informist, Monday, Feb. 17, 2025

By J. Navya Sruthi

MUMBAI – Prices of wheat, rice, and maize were steady Monday in key markets of the country, traders said. Wheat traders said the prediction for rainfall over key wheat-growing states this week is likely to support the crop output. This has also reduced the market's stress about a warmer February.

Prices of WHEAT at Indore in Madhya Pradesh were steady at INR 3,220 per 100 kg, Gaurav Kochar, a local trader, said. Prices in Navi Mumbai's Vashi market were steady at INR 3,400 per 100 kg, said Devendra Vora, a wholesale dealer.

Prices rose last week on supply tightness, firm demand, and the India Meteorological Department's forecast of a warmer February earlier this month. Prices have remained steady at the higher level. According to Vora, there is currently no threat to the wheat crop and the prediction of rainfall during this week might also suport production.

The weather during February plays an important role in determining wheat output as the crop in most of India would be in the harvesting stage. On Monday, the weather bureau said maximum temperatures in parts of northwest and central India are likely to be 2-3 degrees Celsius above normal during the next 4-5 days. Northwest and central India include key wheat-growing states like Uttar Pradesh, Punjab, Haryana, Madhya Pradesh, and Gujarat.

However, the weather department said a fresh western disturbance is likely to influence northwest India on Wednesday and Thursday. Isolated light rainfall is likely over west Rajasthan, Punjab, Haryana, east Rajasthan, west Uttar Pradesh, and Chhattisgarh during the week. 

According to the weather agency, rainfall over northwest India during Oct-Dec was 55% below normal at 23.4 mm and that over central India was 10% lower than normal at 68.5 mm. Similarly, in January rainfall in northwest India was 80.6% below normal at 6.3 mm and in central India was 96.1% below normal at 0.3 mm.

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), Shiva Kumar, a local trader, said. Although arrivals of maize with 13-14% moisture have started in Tamil Nadu, prices in Karnataka are steady because of firm demand at lower prices, Kumar said.

In Tamil Nadu, maize is being sold to ethanol plants at INR 2,550 per 100 kg, but in Karnataka it is priced at INR 2,450 per 100 kg, Kumar said. Usually, demand for maize in Karnataka falls once the Tamil Nadu crop starts arriving in the market. This is because demand shifts from Karnataka to Tamil Nadu, but this year prices in Karnataka have remained lower compared to those in Tamil Nadu, he added. 

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

Edited by Rajeev Pai

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