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Informist, Wednesday, Mar. 26, 2025

By J. Navya Sruthi 

MUMBAI – Prices of wheat were mixed in key markets across India on Wednesday, traders said. They expect prices to be rangebound with a downward bias. Prices of maize were slightly lower due to increased arrivals, while rice prices remained unchanged from the previous day, according to the traders.

In Indore, Madhya Pradesh, prices of mill-quality WHEAT fell by INR 10 to INR 2,640 per 100 kg from the previous day because of rising arrivals in markets, local trader Gaurav Kochar said. Arrivals in the market were unchanged from the previous day at 9,000 bags (1 bag = 100 kg), he said.

However, the decline in wheat prices was lmited as the government is buying the staple grain from farmers at INR 2,600 per 100 kg, which is the floor price in the state, Kochar said. The Madhya Pradesh government has announced a bonus of INR 175 per 100 kg above the minimum support price of INR 2,425 per 100 kg for 2025-26 (Apr-Mar).

Similarly, wheat prices in Delhi fell by INR 45, settling at INR 2,790 per 100 kg, traders said. There have been no reports of damage to the wheat crop, and yields are higher than last year, they said. Private traders estimate wheat production to be between 105 million tonnes and 110 million tonnes, compared to the government's forecast of 115.4 million tonnes. Last year, trade estimates placed wheat production at 100-105 million tonnes, while the government's estimate was way higher at 113.3 million tonnes.

Prices of mill-quality wheat in Navi Mumbai's Vashi market were steady at INR 2,725 per 100 kg, wholesale dealer Devendra Vora said. Prices of the same quality wheat were unchanged from Tuesday in Rajasthan's Kota market at INR 2,400 per 100 kg, while arrivals rose by 30,000 bags to 120,000 bags (1 bag = 50 kg), local trader Aniket Mehta said.

Mehta said arrivals are expected to remain at this level for the next one month. He noted that 80% of the wheat arrivals are dry, with the moisture content at an acceptable level of 14%. Only the wheat with higher moisture content is being sold at INR 2,350 per 100 kg, according to the trader.

In Indore, prices of MAIZE fell by INR 5 at INR 2,345 per 100 kg because of rising summer arrivals in the country, Kochar said. He expects prices to fall in the near term as maize arrivals have increased across the country. There is high pressure from rabi arrivals in Bihar, Andhra Pradesh, Maharashtra, and Madhya Pradesh, which are likely to weigh on prices. 

However, traders expect maize prices to rise by INR 100-INR 200 per 100 kg over the next three months. They said the upward trend is expected to begin once new arrivals in the market start decreasing.

Prices of kolam RICE in Nagpur, Maharashtra, remained 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, Vora said. Prices of broken rice were also steady from the previous day at INR 2,700 per 100 kg, Vora added.  End

Edited by Subhojit Sarkar

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