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Informist, Friday, Apr. 11, 2025

By J. Navya Sruthi

MUMBAI – Prices of wheat fell in Rajasthan's Kota and prices of maize were down in Indore, Madhya Pradesh, on Friday, due to rising rabi crop arrivals in the domestic market, traders said. However, wheat prices were steady from the previous day, traders said. Rice prices were also unchanged from Thursday.

Prices of mill-quality WHEAT in Kota fell by INR 10 to INR 15 from Thursday to INR 2,350-INR 2,370 per 100 kg, said Aniket Mehta, a local trader. Arrivals were steady at 200,000 bags (1 bag = 50 kg). Prices have fallen slightly due to pressure from arrivals, he said. With arrivals likely to be in a range of 200,000-300,000 bags per day in April, prices could be down this week at least, he said.

Prices of the same quality wheat in Indore were steady from the previous day at INR 2,680 per 100 kg and those in Vashi, Navi Mumbai, were steady at INR 2,725 per 100 kg, traders said. Prices of the staple grain were also steady in Delhi at INR 2,625 per 100 kg, traders said.

Meanwhile, Food Corp. of India's wheat purchases in the 2025-26 rabi marketing season so far have surged over 100% to 1.89 million tonnes. FCI has bought 6% of the targetted 31.27 million tonnes and most of the wheat, around 1.65 million tonnes, has come from Madhya Pradesh, the agency data showed.

FCI officials attribute the surge to higher production, early start of procurement, and bonuses over the minimum support price announced by Madhya Pradesh and Rajasthan. Although the minimum support price for 2025-26 (Apr-Mar) was set at INR 2,425 per 100 kg, both Madhya Pradesh and Rajasthan state governments announced a bonus of INR 175 and INR 150 per 100 kg, respectively, over the minimum support price.

Prices of MAIZE in Davanagere, Karnataka, were steady at INR 2,000-INR 2,400 per 100 kg due to lack of fresh cues, said Shiva Kumar, a local trader. Arrivals were also largely the same at 200 bags (1 bag = 60 kg), as the season has almost ended and those farmers who did not sell the grain are currently selling it, he said. Maize is grown in the kharif season during mid-June and October in Karnataka. Prices are likely to remain unchanged in the short term, he said.

However, prices were down in Indore by INR 20 at INR 2,280 per 100 kg due to high rabi arrivals in Madhya Pradesh, local trader Gaurav Kochar said. However, Kochar said maize prices rose in Bihar by INR 100 to INR 2,500 per 100 kg because of heavy rains. Traders expect maize prices to remain on a downtrend because of crop arrivals in central India and higher output in Bihar.

Prices of kolam RICE in Nagpur, Maharashtra, were unchanged 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.

The US Department of Agriculture has increased its estimate for global rice supply in 2024-25 by 3.1 million tonnes to 715.3 million tonnes, mainly on higher production in India, Indonesia, and Cambodia, the department said in its World Agricultural Supply and Demand Estimates report for April.

The US department has raised its estimate for India's production by 2 million tonnes to a record 147 million tonnes on the back of the Indian government's second advanced estimates for kharif and rabi crops, and the expectation that the summer crop output will be similar to recent years. "This is the ninth consecutive year of higher rice production for India and is the first time India surpassed China in rice production, making India the leading global rice producer for 2024-25," the report said.  End

Edited by Nishant Maher

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