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Informist, Wednesday, Mar. 12, 2025

By Shreya Shetty

MUMBAI – Prices of wheat and maize were mixed, while those of rice were steady in key spot markets across the country, traders said. Prices of wheat and maize fell in some markets due to a rise in arrivals of the rabi crops, while they were steady in others. Prices of both grains are expected to fall more, they said.

Prices of mill quality WHEAT Kota, Rajasthan, fell by INR 50 from Tuesday to INR 2,400-INR 2,700 per 100 kg, a local trader said. Arrivals fell by 7,000 bags to 8,000 bags (1 bag = 50 kg), he said. The market is expected to be on a downtrend in the short term due to high arrivals of the rabi crop, he said. 

In Indore, Madhya Pradesh, prices of mill-quality wheat were steady at INR 2,715 per 100 kg, said Gaurav Kochar, a local trader. Arrivals halved to 8,000 bags (1 bag = 100 kg), he said. Arrivals have slowed down ahead of Holi, which is on Friday, he said. Arrivals of the rabi crop are expected to rise after Holi, and prices are likely to fall then, he said. 

Prices of same quality wheat in Vashi, Navi Mumbai, fell by INR 100 to INR 2,800 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.

The government has pegged wheat output at a record high of 115.4 million tonnes in 2024-25 (Jul-Jun), as per the second advance estimates released Monday. Last year, wheat output stood at 113.2 million tonnes.

Prices of MAIZE in Indore fell by INR 15 from Tuesday to INR 2,395 per 100 kg, Kochar said. Demand for maize has fallen due to the availability of rice from the Food Corp. of India for ethanol production, he said. Maize is a sought-after feedstock by distillers for ethanol production.

Kochar sees maize prices falling further due to increasing 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. 

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

Prices of kolam RICE from Nagpur were steady at INR 5,200-INR 5,400 per 100 kg, and those of new basmati rice were unchanged at INR 6,000-INR 6,400 per 100 kg, Vora said. He expects prices to remain down despite the government allowing the exports of non-basmati broken rice due to subdued demand in international markets. 

According to the second advance estimate, 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. End

Edited by Deepshikha Bhardwaj

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