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Informist, Monday, May. 5, 2025

By J. Navya Sruthi

MUMBAI – Prices of maize rose in Indore, Madhya Pradesh, on Monday as arrivals fell due to continuous rainfall in the state, traders said. Prices of wheat rose in Indore, while they fell in Rajasthan's Kota market, traders said. Prices of rice remained unchanged due to lack of new cues, traders said. 

Prices of MAIZE in Indore rose to INR 2,260 per 100 kg from INR 2,215 per 100 kg the previous day, local trader Gaurav Kochar said. So far maize has been undervalued, but now, due to bad weather, arrivals in Madhya Pradesh, Rajasthan, Uttar Pradesh, and Bihar fell, which supported prices, he said. Kochar expects maize prices to rise by more INR 100 in the near term because of demand and lower arrivals. 

Meanwhile, prices of maize in Karnataka's Davanagere were steady at INR 2,000-INR 2,200 per 100 kg and arrivals were also largely unchanged at 500 bags (1 bag = 60 kg), as the season has almost ended, local trader Shiva Kumar said. Despite low arrivals in the state, prices are likely to remain steady as rabi arrivals have started in Andhra Pradesh, Madhya Pradesh, Uttar Pradesh, and Bihar, he said. 

Prices of mill-quality WHEAT in Kota fell by INR 10 to INR 2,390 per 100 kg as arrivals increased from the previous day, local trader Aniket Mehta said. Arrivals in the market rose by 30,000 bags to 80,000 bags (1 bag = 50 kg) as arrivals usually rise on Monday as market remains shut for two days during the weekend.

Mehta do not see any further downside in prices as arrivals are low compared to the 150,000-200,000 bags seen a week ago. The ongoing heavy rainfall in the state is also likely to restrict farmers from bringing the crop to markets, he added.

Prices of mill-quality wheat in Indore rose by INR 10 to INR 2,700 per 100 kg, as arrivals fell due to heavy rainfall, Kochar said. Arrivals fell to 700 bags from 2,000 bags (1 bag = 100 kg), on the previous day. Prices of the grain in Delhi were up by INR 20 at INR 2,670 per 100 kg, according to traders.

The India Meteorological Department has issued an orange alert for heavy rainfall in 13 states--Jammu and Kashmir, Punjab, Haryana, Himachal Pradesh, Uttarakhand, Uttar Pradesh, Bihar, Madhya Pradesh, Rajasthan, Gujarat, Andhra Pradesh, Telangana, and Chhattisgarh--and the Vidarbha region for Monday. An orange alert indicates rainfall of 115.6-204.4 millimetres in 24 hours. 

In Vijayawada's Bhavanipuram, prices of sona masoori RICE, a premium variety of non-basmati rice, were steady at INR 5,000 per 100 kg, local trader Ravi Shankar said. Prices are likely to remain lower because of subdued demand and ample supply in domestic markets, he said. Despite the government's move to allow rice exports, prices are unlikely to rise as there is huge stock at ports, in the domestic markets, and with the government, Shankar said. 

Rice stocks in the central pool were up 26.5% on year at 38.2 million tonnes as of Apr. 1. The stocks were up nearly 4% from 36.8 million tonnes a month ago. The current rice stocks are far above the buffer norm of about 13.6 million tonnes--operational stock of 11.58 million tonnes and strategic reserve of 2.00 million tonnes.  End

Edited by Avishek Dutta

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