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Informist, Monday, Apr. 7, 2025

By J. Navya Sruthi

MUMBAI – Maize prices at Indore in Madhya Pradesh were slightly down due to rising rabi arrivals, traders said, adding that prices are likely to remain steady in the near term. Wheat prices were steady in key markets despite rising arrivals due to firm demand, traders said. However, rice prices remained unchanged due to lack of demand. 

In Indore, prices of MAIZE were down by INR 15 at INR 2,300 per 100 kg from last week due to rising rabi arrivals, local trader Gaurav Kochar said. Currently, maize prices are at the least level and are expected to remain steady at this level, Kochar said. "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. 

However, prices of maize in Davanagere, Karnataka, were steady from the previous day at INR 2,000-INR 2,400 per 100 kg due to lack of new cues, local trader Shiva Kumar said. Arrivals were also steady at 200 bags (1 bag = 60 kg), he said, adding that the season has almost ended and those farmers who did not sell the grain are currently selling it. Maize is grown in kharif season, that is during mid-June and October in Karnataka. 

Prices of mill-quality WHEAT in Kota were steady at INR 2,420 per 100 kg, local trader Aniket Mehta said. Arrivals rose by 150,000 bags to 350,000 bags (1 bag = 50 kg). Arrivals usually rise on Monday as the markets are shut during the weekend, and there will be two-day arrivals, Mehta said. In Apr-May, the average arrivals per day are likely to be around 200,000-300,000 bags. 

Wheat prices were steady despite pressure from arrivals due to demand from multi-national companies, millers, 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. Similarly, the Madhya Pradesh government has announced a bonus of INR 175 per 100 kg.   

Prices in Indore were steady from the previous day at INR 2,650 per 100 kg, Kochar said. Arrivals in Indore market were down by 3,000 bags from the previous day at 4,000 bags (1 bag = 100 kg). 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 prices in the country's capital were down by INR 35 at INR 2,625 per 100 kg, according to traders. 

Prices of kolam RICE in Nagpur, Maharashtra, were 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 Akul Nishant Akhoury

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