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Informist, Friday, Mar. 21, 2025

By J. Navya Sruthi

MUMBAI – Prices of wheat were slightly up in Indore, Madhya Pradesh, Friday, on the back of demand from multi-national companies, traders said. Wheat prices are likely to rise slightly in the near-term despite high arrivals due to demand from the government, they said. Prices of maize and rice were steady, traders said.

Prices of mill-quality WHEAT rose by INR 10 to INR 2,700 per 100 kg in Indore due to firm demand, local trader Gaurav Kochar said. However, arrivals also rose by 1,000 bags to 8,000 bags (1 bag = 100 kg), he said. Prices rose despite high arrivals as multi-national companies like Britannia Industries, ITC, and Parle have started buying wheat from the market, Kochar said.

In the near-term, prices could rise by INR 100-INR 200 per 100 kg even though pressure from arrivals is already there, because of central government's procurement, Kochar said. Prices are unlikely to fall below INR 2,600 per 100 kg as the state government has announced a bonus of INR 175 per 100 kg over the minimum support price of INR 2,425 per 100 kg.

However, in Navi Mumbai's Vashi market, prices of the same quality wheat were steady at INR 2,775 per 100 kg. In Delhi, too, prices were unchanged at INR 2,850 per 100 kg, according to traders.

Prices of kolam RICE from Nagpur, Maharashtra, 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 in the Vashi market, Devendra Vora, a wholesale broker said. Prices are likely to hover on the lower side due to subdued demand and expectations of rising rabi rice arrivals, he said.

In Indore, prices of MAIZE were unchanged from the previous day at INR 2,445 per 100 kg, Kochar said. In Davanagere, Karnataka, maize prices were largely unchanged from the previous day at INR 2,000-INR 2,400 per 100 kg, said local trader Shiva Kumar. Arrivals were at 2,000 bags, unchanged from Wednesday, Kumar said.  End

Edited by Ashish Shirke

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