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Informist, Friday, Apr. 4, 2025

By J. Navya Sruthi

MUMBAI – Wheat prices rose in Rajasthan's Kota market Friday due to firm demand, traders said. However, in some other key markets, prices of the commodity were unchanged from the previous day. Prices of maize and rice were steady due to lack of new cues, traders said. 

Prices of mill-quality WHEAT in Kota market rose by INR 20 to INR 2,420 per 100 kg due to demand from millers, local trader Aniket Mehta said. Arrivals fell by 100,000 bags to 200,000 bags (1 bag = 50 kg). Though arrivals fell from Thursday, they were still high compared to earlier weeks. Mehta said arrivals are likely to be in a range of 200,000-300,000 bags. 

Prices rose despite pressure from arrivals due to demand from multi-national companies and the government's procurement. The government is buying wheat at INR 2,575 per 100 kg, which is above the market prices. The Rajasthan government has announced a bonus of INR 150 per 100 kg over the minimum support price of INR 2,425 per 100 kg for the rabi marketing season.   

Prices in Indore, Madhya Pradesh, were steady from the previous day 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). "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.

Wheat prices in the country's capital were down by INR 10 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.

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 lead 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 Vandana Hingorani

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