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Informist, Thursday, Apr. 3, 2025

By J. Navya Sruthi

MUMBAI – Wheat prices were slightly up in most markets in the country Thursday due to rising demand from millers, traders said. Prices of maize and rice were, however, steady from the previous day, traders said. 

Traders expect wheat prices to rise in the near term due to robust government purchases and firm demand from millers. The procurement agencies have procured 748,000 tonnes of wheat so far in the 2025-26 rabi marketing season, up from 250,000 tonnes a year ago.

Prices in Indore, Madhya Pradesh, were up by INR 10 at INR 2,640 per 100 kg, said Gaurav Kochar, a local trader. Arrivals in Indore market were unchanged from the previous day at 7,000 bags (1 bag = 100 kg). Prices rose due to firm demand from millers and multi-national companies, Kochar said.

Currently, arrivals are lower compared to 8,000 bags in last week. Arrivals fell due to the government's procurement as it is buying at INR 2,600 per 100 kg, prices in local markets start at INR 2,400 per 100 kg, Kochar 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. 

"We anticipate a significant upward trajectory in wheat prices over the next 2-3 months, with a potential increase of INR 200 per 100 kg," Kochar said. He added that 'escalating demand and government's purchases' are likely to support prices.

Prices in Delhi also rose by INR 10 to INR 2,660 per 100 kg, according to traders said. 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.

Meanwhile, wheat stocks with the Food Corp. of India were at 12.4 million tonnes as of Apr. 1, up 65% from a year ago, an FCI official told Informist. The stocks as of Apr. 1 are sharply higher than the buffer norm of 7.5 million tonnes. The increase in stocks is on account of higher procurement from early arrival in states such as Madhya Pradesh, Rajasthan, Uttar Pradesh and Gujarat, the official told Informst.

In Indore, prices of MAIZE were steady from Wednesday at INR 2,315 per 100 kg, Kochar said. "Maize prices are at the lowest currently, and demand from ethanol sector is likely to a rebound in prices. As the ethanol industry continues to expand, we anticipate a corresponding upward trajectory in maize prices, commencing from next month," he added. 

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.  End

Edited by Deepshikha Bhardwaj

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