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Informist, Friday, Mar. 28, 2025

By J. Navya Sruthi

MUMBAI - Prices of wheat, maize, and rice were steady in the key markets across the country due to lack of new cues, traders said. Wheat arrivals in Rajasthan's Kota market rose to 130,000 bags, with the government's procurement supporting prices, traders said. 

Prices of WHEAT were steady across most markets in the country despite higher arrivals. Mill-quality wheat prices in Rajasthan's Kota market were unchanged from the previous day at INR 2,375 per 100 kg, local trader Aniket Mehta said. However, arrivals rose to 130,000 bags (1 bag = 50 kg) from 125,000 bags on the previous day, Mehta said.

Prices of wheat were also steady at INR 2,660 per 100 kg in Indore, Madhya Pradesh, local trader Gaurav Kochar said. Arrivals were also unchanged from the previous day at 8,000 bags (1 bag = 100 kg), he said. Prices of the staple grain in Navi Mumbai's Vashi market were steady compared with the previous day, at INR 2,725 per 100 kg, wholesale dealer Devendra Vora said.

Wheat arrivals commenced when the domestic pipeline was empty. Firm buying from millers and traders is currently supporting wheat prices. Moreover, Rajasthan and Madhya Pradesh state governments have also announced bonus over the minimum support price to procure wheat from farmers, which is also supporting the prices, traders said.

The Madhya Pradesh government has announced a bonus of INR 175 per 100 kg over the minimum support price of INR 2,425 per 100 kg, and Rajasthan has announced a bonus of INR 150 per 100 kg for the rabi marketing season starting April. In 2024-25, both the states had announced a bonus of INR 125 per 100 kg each over the minimum support price of INR 2,275 per 100 kg.

In Indore, prices of MAIZE were steady from the previous day at INR 2,340 per 100 kg, Kochar said. Prices were also steady in Karnataka's Davanagere at INR 2,000-INR 2,400 per 100 kg, traders said. 

However, pressure from the rabi arrivals in Bihar, Andhra Pradesh, Maharashtra, and Madhya Pradesh, is likely to weigh on prices, traders said. But, 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 also unchanged at INR 6,000-INR 6,400 per 100 kg in the Vashi market, Vora said. Prices of broken rice were steady from the previous day at INR 2,700 per 100 kg, Vora added.  End

Edited by Vandana Hingorani

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