More Stories

Informist, Wednesday, Apr. 2, 2025

By J. Navya Sruthi

MUMBAI – Wheat prices were mixed in key markets across the country. While prices rose in a few markets due to firm demand from millers and multi-national companies, they fell in some markets due to ongoing government procurement, traders said. Prices of maize fell due to high rabi arrivals, while those of rice remained unchanged from Tuesday, traders said.

Prices of WHEAT in Rajasthan's Kota market rose by INR 25 to INR 2,400 per 100 kg due to demand from millers, local trader Aniket Mehta said. However, arrivals remained unchanged from the previous day at 300,000 bags (1 bag = 50 kg), Mehta said. Multi-national companies have started buying wheat, which is also supporting prices, he added. Wheat prices in the country's capital were also up by INR 50 at INR 2,650 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. Prices in Indore, Madhya Pradesh, were unchanged at INR 2,640 per 100 kg, according to Gaurav Kochar, a local trader. Arrivals in Indore market were down by 1,000 bags at 7,000 bags (1 bag = 100 kg), mainly due to the ongoing government procurement, Kochar said.

"Prices in local markets are around INR 2,400 per 100 kg while the government is buying at INR 2,600 per 100 kg. So, farmers are selling wheat to the government," he added.

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.

According to a report by BusinessLine, the government's wheat procurement soared 240% as of Monday to 8.5 million tonnes in the 2025-26 rabi marketing season. The government had procured 2.5 million tonnes during the corresponding period in 2024-25, the report said.

In Indore, prices of MAIZE were down at INR 2,315 per 100 kg, compared with INR 2,325 per 100 kg on Tuesday, Kochar said. Pressure from rabi arrivals in Bihar, Andhra Pradesh, Maharashtra, and Madhya Pradesh pulled prices down, traders said.

IB Group, which is engaged in poultry, livestock feed, edible oils, and processed chicken industry, sees India's maize production in 2024-25 (Jul-Jun) at 34.5 million tonnes, up 17% from 29.5 million tonnes estimated for 2023-24, said Arpit Jain, senior vice president, energy procurement-grains at the group. The estimated maize procurement of 34.5 million tonnes for the Jul-Jun period is however short of the government's target of 40 million tonnes, he said. Due to rising demand from the ethanol sector, the country's maize output is likely to reach 65-70 million tonnes over the next six years, Jain said.

Prices of kolam RICE in Nagpur, Maharashtra, remained steady at INR 5,200–INR 5,400 per 100 kg. Prices 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.

India exported 3.3 million tonnes of non-basmati white rice in 2024-25 (Apr-Mar) as of Mar. 25, up 41% on year, the Ministry of Consumer Affairs, Food, and Public Distribution said Tuesday. The government had banned export of non-basmati white rice in July 2023 and lifted the ban in September but imposed a minimum export price of $490 per tonne.

The minimum export price of $490 per tonne was removed in October 2024. This lifted overall rice exports to 19.9 million tonnes in FY25 as of Mar. 25 from 16.4 million tonnes the previous year, the release said.  End

$1 = INR 85.49

Edited by Nishant Maher

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000  

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.