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Informist, Monday, Mar. 3, 2025

By J. Navya Sruthi

MUMBAI – Prices of wheat fell in key markets in the country due to increasing arrivals, traders said. Prices of maize and rice were unchanged from the previous day due to a lack of new cues, traders said. 

Prices of mill-quality WHEAT were down by INR 100 at INR 2,800 per 100 kg in Indore in Madhya Pradesh due to higher arrivals, local trader Gaurav Kochar said. Arrivals rose to 10,000 bags from 8,000 bags (1 bag = 100 kg) on the previous day, he said. Prices of the same quality wheat in Delhi were down by INR 50 at INR 3,150 per 100 kg, traders said. Prices of malwa variety wheat in Navi Mumbai's Vashi market were down by INR 50 at INR 3,250 per 100 kg, wholesale trader Devendra Vora said. 

After a week's protest by traders for the removal of the 'Krishi Kalyan Cess', markets in Rajasthan opened on Monday. Aniket Mehta, a local trader, said prices of mill-quality wheat were INR 2,700-INR 2,750 per 100 kg, down from INR 3,000-INR 3,200 per 100 kg in the week ended Feb. 21. Arrivals were at 4,000 bags (1 bag = 50 kg), up from 2,000 bags earlier.

Prices of MAIZE were steady at INR 2,370 per 100 kg at Ashoknagar in Madhya Pradesh, Kochar said. Though speculation about the government not allowing the ethanol plants to buy rice pushed up the price of maize, the rabi crop arrivals have limited the gains, Kochar said. 

The government has not made any announcement about restricting the ethanol plants from buying rice to produce ethanol. Any news on diversion of rice for ethanol will affect the prices of maize and rice as both are used to produce ethanol.  

Rabi maize was sown over 2.37 million hectares as of Jan. 31, up 8.8% on year and higher than the normal area for the season of 2.21 million hectares. The area under summer maize was, however, down at 89,200 hectares as of Feb. 21 compared with 105,200 hectares a year ago. Taking cues from higher rabi acreage, maize prices in local markets have corrected by INR 150 to INR 2,360 per 100 kg in February.

Prices of sonam RICE from Gujarat were steady at INR 5,300 per 100 kg in Navi Mumbai's 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 were unchanged from the previous day at INR 5,500-INR 6,400 per 100 kg at Bhavanipuram in Andhra Pradesh, said Ravi Shankar, a local trader.

India's basmati rice exports in the quarter ending March are likely to fall sharply from a year ago because of weak demand and expectation of a further fall in prices, according to Indian Rice Exporters Federation National President Prem Garg. He sees basmati rice exports in Jan-Mar falling 1.0 million tonnes from 1.7 million tonnes a year ago. Exports of premium rice variety is seen at 400,000 tonnes each in January and February, and 200,000 tonnes in March, he said.  End

Edited by Saji George Titus

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