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Informist, Tuesday, Mar. 18, 2025

By J. Navya Sruthi

MUMBAI – Wheat prices fell in most key markets across India on Tuesday because of subdued demand, traders said. Arrivals of the grain have been rising consistently over the past few days with the harvest season picking up, weighing on prices. Maize prices rose in Indore, Madhya Pradesh, while those were steady in Karnataka's Davanagere. However, prices of rice remained unchanged from Monday, the traders said.

Prices of mill quality WHEAT at Kota in Rajasthan were INR 2,350 per 100 kg on Tuesday from INR 2,400 per 100 kg on the previous day due to subdued buying, local trader Aniket Mehta said. Even though arrivals have been on a rise over the past few days, the supply was unchanged on Tuesday from the previous day at 15,000 bags (1 bag = 50 kg), but higher than 5,000 bags last week, Mehta said. 

Currently, wheat with 16-22% moisture content is being sold at INR 2,300 per 100 kg while the grain with acceptable moisture content of 14% is priced at INR 2,350 per 100 kg, according to Mehta. There is a low demand for the grain in the market as of now as multinational companies and the government will start buying wheat in April, Mehta added.

Prices of the same quality wheat in Indore fell by INR 25 at INR 2,665 per 100 kg, local trader Gaurav Kochar said. Arrivals declined by 1,000 bags to 9,000 bags (1 bag = 100 kg) due to Rangpanchami, which falls on Wednesday, he said, adding that the market would be closed on Wednesday.

However, the price of same quality wheat at Vashi in Navi Mumbai remained unchanged at INR 2,800 per 100 kg, wholesale trader Devendra Vora 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 remained unchanged at INR 6,000-INR 6,400 per 100 kg, Vora said. Prices are likely to hover on the lower side amid subdued demand and expectation of rising rabi rice arrivals, he added.

According to the second advance estimate, the government has pegged kharif rice production at a record high of 120.7 million tonnes in 2024-25 while that from the rabi season is estimated at 15.8 million tonnes. 

Prices of MAIZE in Indore jumped by INR 15 from Monday to INR 2,405 per 100 kg on high demand from ethanol plants, Kochar said. However, maize prices in Davanagere were largely unchanged from the previous day at INR 2,000-INR 2,400 per 100 kg, said local trader Shiva Kumar. Arrivals remained unchanged at 2,000 bags, Kumar said. 

According to Kochar, maize prices may rise by INR 100-INR 200 per 100 kg over the next three months. "This upward trend is expected to begin once new arrivals in the market start decreasing." In Karnataka, poultry farms are waiting for maize prices to fall amid rabi arrivals to stock up the grain, Kumar said. Pressure from high rabi arrivals in Bihar, Andhra Pradesh, Maharashtra, and Madhya Pradesh are likely to pull down prices, but in July prices are expected to rise, Kumar added.  End

Edited by Subhojit Sarkar

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