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Informist, Monday, Apr. 28, 2025

By J. Navya Sruthi

MUMBAI – Prices of wheat and maize fell in key spot markets in the country on Monday on higher rabi arrivals, traders said. Prices of rice, however, remained unchanged from the previous day due to lack of fresh cues. 

Prices of mill-quality WHEAT were down in Indore in Madhya Pradesh by INR 10 at INR 2,670 per 100 kg due to pressure of fresh arrivals in domestic markets, local trader Gaurav Kochar said. Though wheat arrivals in Indore have fallen from the previous week, there is pressure from neighbouring states, he said. On Monday, arrivals were steady from Friday at 3,000 bags (1 bag = 100 kg). 

Prices of mill-quality wheat in Rajasthan's Kota fell INR 15-INR 20 to INR 2,380-INR 2,410 per 100 kg due to persisting storage issues in the market, local trader Aniket Mehta said. Arrivals in the market were steady from the previous day at 100,000 bags (1 bag = 50 kg). 

Wheat traders in Rajasthan are facing a storage crunch because of huge stockpiles of rice and soybean from the kharif season, Mehta said. Lower prices of rice and soybean in the market have discouraged traders from selling them, compounding the challenge, traders said. Moreover, the production of wheat in the state this year is 13% on year at 10.9 million tonnes, which is adding to the space crunch. 

Prices of the same quality wheat were steady in Navi Mumbai's Vashi market at INR 2,750 per 100 kg, Devendra Vora, a wholesale dealer, said. Prices of the grain in Delhi were down by INR 10 at INR 2,650 per 100 kg, according to traders.

Prices of MAIZE in Indore were down INR 35 at INR 2,265 per 100 kg, Kochar said. Prices fell due to increasing pressure from summer arrivals, he added. However, the downside is limited as demand from ethanol plants persists, Kochar said.

Prices of the 1401 basmati RICE variety in Vashi market were steady at INR 6,800 per 100 kg, and those of the 1509 variety were unchanged at INR 6,800 per 100 kg. Prices of kolam rice in Vashi market were steady at INR 5,200–INR 5,400 per 100 kg, Vora said. Prices of broken rice also remained steady at INR 2,700 per 100 kg, he said.

In Vijayawada's Bhavanipuram in Andhra Pradesh, prices of sona masoori rice, a premium non-basmati rice variety, were steady at INR 5,000 per 100 kg, local trader Ravi Shankar said. Notwithstanding the closure of rice mills due to high temperatures in the country, prices of non-basmati rice are unlikely to rise as there is ample rice stock available, traders said.

Prices of basmati rice had risen last week by INR 200-INR 300 for 100 kg due to low stocks in the market as rice boilers were shut. Unlike basmati rice, non-basmati rice varieties are grown in both kharif and rabi seasons, and some regions in southern India grow paddy thrice a year, which has led to an excess supply. This has restricted any rebound in prices of non-basmati rice varieties.  End

Edited by Saji George Titus

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