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Informist, Monday, Apr. 21, 2025

By J. Navya Sruthi

MUMBAI – Wheat prices rose slightly from the previous trading day, driven by low arrivals and steady demand, traders said. Maize and rice prices remained unchanged Monday amid a lack of fresh market cues, they added.

Prices of mill-quality WHEAT in Kota, Rajasthan, were up by INR 10-INR 15 at INR 2,410-INR 2,415 per 100 kg as arrivals were down, local trader Aniket Mehta said. Arrivals fell by 10,000 bags from Saturday to 90,000 bags (1 bag = 50 kg), according to Mehta.

Despite Monday's uptick, wheat prices remain well below the procurement rate offered by the Rajasthan government, Mehta said. The state has announced a bonus of INR 150 per 100 kg over the central government's minimum support price of INR 2,425 per 100 kg for the rabi marketing season 2025–26 (Apr–Mar). In spite of this, many farmers prefer to sell in the open market rather than to the government because of delays in payment, Mehta explained. This in turn is leading to higher supply in the open market, pulling prices down.

Prices of the same quality wheat in Indore, Madhya Pradesh, also rose slightly by INR 10 to INR 2,690 per 100 kg on firm demand while arrivals remained steady at 5,000 bags (1 bag = 100 kg), local trader Gaurav Kochar said. Prices of the same quality wheat were steady in Vashi, Navi Mumbai, at INR 2,750 per 100 kg, Devendra Vora, a local trader, said.

As of Sunday, the Food Corp. of India had bought 674,501 tonnes of wheat from farmers in Rajasthan, massively higher than 155,356 tonnes procured during the corresponding period last year, according to data provided by FCI. The overall procurement by FCI was at 12.7 million tonnes, higher than 7.48 million tonnes a year ago.

Prices of MAIZE in Indore remained steady at INR 2,260 per 100 kg from the previous day, Kochar said. Traders anticipate a continued downward trend in prices, fuelled by fresh crop arrivals in central India and a projected rise in output in Bihar. However, arrivals from Bihar--the largest rabi-season maize producer--have been delayed by heavy rainfall, he added.

Prices of kolam RICE in Nagpur, Maharashtra, were steady at INR 5,200–INR 5,400 per 100 kg. Prices of new basmati rice also remained unchanged at INR 6,000–INR 6,400 per 100 kg in the Vashi market, Vora said. Prices of broken rice also remained steady at INR 2,700 per 100 kg, he said, adding that prices are likely to remain steady in the short term due to muted export demand.  End

Edited by Subhojit Sarkar

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