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Informist, Wednesday, Apr. 16, 2025

By J. Navya Sruthi

MUMBAI – Prices of wheat rose slightly in most key spot markets due to rising demand, while those of maize fell because of increasing rabi arrivals, traders said. Prices of rice were steady, they said.

Prices of mill-quality WHEAT in Indore in Madhya Pradesh rose INR 10 to INR 2,680 per 100 kg due to rising demand, local trader Gaurav Kochar said. Arrivals were steady from the previous day at 5,000 bags (1 bag = 100 kg), he said. Though the arrivals were steady in Indore, they were down in other markets, which also supported prices, Kochar added. Prices of the staple grain also rose in Delhi to INR 2,650 per 100 kg on Wednesday from INR 2,625 per 100 kg, traders said.  

Prices of the same quality wheat were steady in Vashi in Navi Mumbai at INR 2,750 per 100 kg, Devendra Vora, a local trader, said. Wheat prices are expected to fall by INR 50–INR 100 per 100 kg by the end of April, once the arrivals start in the northern belt, Vora said.

Wheat arrivals have been delayed in Punjab, Haryana, Bihar, and Uttar Pradesh this year due to rainfall during harvest, Vora said. However, the damage to the wheat crop due to the rainfall is negligible. "Till arrivals start in these states, prices are likely to be steady," Vora said.      

Meanwhile, wheat stocks with Food Corp. of India were 11.8 million tonnes as of Apr. 1, up 57.3% from 7.5 million tonnes a year ago, data from the nodal procurement agency showed. However, the Apr. 1 wheat stocks with the Food Corp. were down 12% from 13.4 million tonnes a month ago.

The wheat stocks were 4.3 million tonnes above the buffer norms for the quarter. According to the norms, minimum wheat stocks for Apr-Jun should be nearly 7.5 million tonnes--operational stock of 4.46 million tonnes and strategic reserve of 3.00 million tonnes. The government sets the buffer requirement of food grains for every quarter. 

Prices of MAIZE in Indore fell INR 10 to INR 2,260 per 100 kg due to rising arrivals in the state, Kochar said. Arrivals have been delayed in Bihar, the largest maize producer in the rabi season, due to heavy rainfall.

Prices of kolam RICE in Nagpur in 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 at INR 2,700 per 100 kg, Vora added. Prices are likely to remain steady in the short term due to muted export demand, he said.  End

Edited by Saji George Titus

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