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Informist, Wednesday, Feb. 19, 2025

By J. Navya Sruthi

MUMBAI – Prices of wheat, maize, and rice were unchanged in key markets across the country on Wednesday, traders said. Prices of WHEAT in Indore, Madhya Pradesh, were steady at INR 3,220 per 100 kg, said Gaurav Kochar, a local trader. Prices in Delhi were steady at INR 3,250 per 100 kg, according to traders. Prices of wheat at Navi Mumbai's Vashi market were unavailable, as the market was shut on account of Chhatrapati Shivaji Maharaj Jayanti, traders said. 

Wheat prices are likely to remain steady with a change of INR 50-INR 100 per 100 kg on either side for the next 10-15 days, when arrivals of the new crop start, wholesale dealer Devendra Vora said. However, in the medium term, prices are likely to fall due to the pressure of new crop arrivals in domestic markets. Private trade expects wheat output in 2024-25 (Jul-Jun) at 98-105 million tonnes, against the government's target of 115 million tonnes. 

The weather in February plays an important role in determining wheat output as the crop in most of India would be in the harvesting stage. Experts said there is a risk of heatwave in the next two-three weeks, which would weigh on wheat output. However, for now the India Meteorological Department said rainfall is likely over the western Himalayan region and northwest India during the next 48 hours, which would reduce the threat of significant yield losses. 

Prices of MAIZE in Davanagere, 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), said Shiva Kumar, a local trader. 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. 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 sona masoori RICE remained unchanged from the previous day at INR 5,500-INR 6,400 per 100 kg in Bhavanipuram, Andhra Pradesh, said Ravi Shankar, a local trader. Prices of rice in Vashi on Wednesday were unavailable.  End

Edited by Avishek Dutta

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