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Informist, Monday, Mar. 10, 2025

By Shreya Shetty

MUMBAI – Prices of wheat and maize fell while those of rice were mixed in key spot markets across the country, traders said. Prices of wheat and maize were weighed down by a jump in arrivals of the rabi crop, they said. According to the government's second advance estimates, production of kharif rice and maize as well as rabi wheat have been pegged at all-time highs.

Prices of mill-quality WHEAT in Indore, Madhya Pradesh, fell by INR 70 from Friday to INR 2,730 per 100 kg, said Gaurav Kochar, a local trader. Arrivals jumped by 12,000 bags to 20,000 bags (1 bag = 100 kg), he said. Prices fell under pressure from rising arrivals, he said. 

As per the second advance estimates for the 2024-25 kharif and rabi output, the government has pegged rabi wheat output at a record high of 115.4 million tonnes, according to data from the Ministry of Agriculture and Farmers Welfare.

Prices of mill-quality wheat in Vashi, Navi Mumbai, fell by INR 25 from Friday to INR 2,925 per 100 kg, wholesale trader Devendra Vora said. Vora expects a further downside of INR 100-INR 200 per 100 kg in wheat prices as arrivals are likely to increase in the week ahead.

In Kota, Rajasthan, prices of mill-quality wheat fell by INR 50 from Friday to INR 2,650-INR 2,850 per 100 kg, said a local trader. Arrivals in the spot market doubled to 12,000 bags (1 bag = 50 kg), he said. 

MAIZE prices in Indore fell slightly by INR 15 from Friday to INR 2,720 per 100 kg, Kochar said. Prices fell owing to a rise in arrivals of the coarse grain, though a steep fall was limited by firm demand, he said. However, in the medium term, prices are seen on a donwtrend due to high rabi arrivals.

The government has pegged kharif maize output at an all-time high of 24.8 million tonnes, while rabi maize output is estimated to be 12.4 million tonnes. 

Prices of the grain were steady in Karnataka's Davanagere at INR 2,000-2,380 per 100 kg, Shiva Kumar, a local trader, said. Arrivals were also unchanged at 2,000 bags (1 bag = 60 kg), he said.

Prices of kolam RICE from Nagpur fell by INR 100 from Friday to INR 5,200-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.

According to the second advance estimates, the government has pegged kharif rice ouput at a record high of 120.7 million tonnes, while that of the rabi season is estimated at 15.8 million tonnes. 

Vora had earlier said rice prices would rise only if the government allowed the export of non-basmati broken rice, for which there is demand in China and some African countries. On Friday, the government finally allowed exports of non-basmati broken rice with immediate effect, according to a release from the Directorate General of Foreign Trade. The government had banned exports of non-basmati broken rice in September 2022 to control firm prices in the domestic markets.  End

Edited by Rajeev Pai

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