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Informist, Tuesday, Apr. 1, 2025

By J. Navya Sruthi

MUMBAI – Wheat and maize prices fell in key markets across the country on Tuesday due to pressure from rabi arrivals, traders said. Rising arrivals in domestic markets are likely to pull wheat prices down by INR 50 per 100 kg in the near term, traders said. Prices of rice were steady in key markets. 

Prices of WHEAT were down across most markets in the country due to rising 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 surged to 300,000 bags from 130,000 bags (1 bag = 50 kg) on Friday, Mehta said.

Prices of wheat were down by INR 20 at INR 2,640 per 100 kg in Indore, Madhya Pradesh, local trader Gaurav Kochar said. There were no arrivals as most markets were shut, he said. Wheat prices in the country's capital were also down by INR 100 at INR 2,600 per 100 kg, according to traders.  

Prices of the staple grain in Navi Mumbai's Vashi market were steady compared to the previous day, at INR 2,725 per 100 kg, wholesale dealer Devendra Vora said.

Wheat arrivals commenced when domestic millers hardly had any stocks left. Had it not been for firm buying by millers and traders, wheat prices would have fallen even more. Moreover, the Rajasthan and Madhya Pradesh state governments have also announced a bonus over the minimum support price to procure wheat from farmers, which is also limiting the fall in prices, traders said.

However, due to higher production compared to last year, Mehta said, prices are likely to fall by INR 50 per 100 kg in the near term because of increasing arrivals in domestic markets. The government has pegged wheat output in 2024-25 (Jul-Jun) at 115.4 million tonnes, up 3% on year. Private trade estimated wheat output at 105-110 million tonnes, against 100-105 million tonnes last year. 

In Indore, prices of MAIZE were at INR 2,325 per 100 kg, lower than INR 2,340 per 100 kg on Friday, Kochar said. Pressure from rabi arrivals in Bihar, Andhra Pradesh, Maharashtra, and Madhya Pradesh pulled down prices, traders said. However, they expect maize prices to rise by INR 100-INR 200 per 100 kg over the next three months. Kochar 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 Avishek Dutta

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