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Informist, Tuesday, Feb. 18, 2025

By J. Navya Sruthi

MUMBAI – Prices of wheat, maize, and rice were steady in key markets across the country on Tuesday due to lack of fresh cues, traders said. Experts and traders expect wheat output to be higher this year compared to last year due to improving weather conditions.

Prices of WHEAT in Indore, 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 were steady at INR 3,250 per 100 kg in the key benchmark market of Delhi, according to traders.

According to Vora, there is currently no threat to the wheat crop and forecast of rainfall this week might also support production. Rahul Chauhan, director of IGrain, expects wheat production in 2024-25 (Jul-Jun) to touch 105 million tonnes. Last year, he had pegged India's wheat output at 100-105 million tonnes, against the government's estimate of 113.3 million tonnes. However, he said temperature would play an important role in output.

India Meteorological Department has forecast light to moderate rainfall over key wheat growing states of Rajasthan, Haryana, west Uttar Pradesh, and central India this week. Weather during February plays an important role in determining wheat output as the crop in most of India would be in the harvesting stage.

Prices of MAIZE at Davanagere in Karnataka were steady at INR 2,000-INR 2,380 per 100 kg. Arrivals were also steady 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.

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. Although new crop arrivals have started, prices remain steady as the millers are selling the new crop after drying and giving steam to the grain, he said.

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

Edited by Ashish Shirke

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