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Informist, Wednesday, May 14, 2025

By J. Navya Sruthi

MUMBAI – Wheat prices fell for the second consecutive day Wednesday as arrivals continued to increase, traders said. Prices of rice and maize were steady due to a lack of new cues. 

Prices of mill-quality WHEAT at Kota in Rajasthan were down by INR 10-INR 15 to INR 2,430-INR 2,435 per 100 kg as arrivals doubled to 120,000 bags (1 bag = 50 kg), said local trader Aniket Mehta. For a week, arrivals were low as it was raining in Rajasthan, he said. Arrivals have increased Wednesday as it has stopped raining, he said. Farmers usually do not prefer bringing wheat to market when it rains, as it damages the grain.

Mehta also said the government's decision to distribute the supply of ration for three months--covering June, July, and August--in a single phase starting May 21 also weighed on wheat prices. The Centre has decided to advance the supply at a time when the Food Corp. of India is sitting on stockpiles of wheat and rice.

Prices of wheat in Delhi initially fell by INR 25 to INR 2,675 per 100 kg but later rose to INR 2,700 per 100 kg, which is steady from the previous day, according to traders. Arrivals rose Wednesday across the country, and the situation on the border has also improved, both of which weighed on prices, experts said.

Prices of mill-quality wheat at Indore in Madhya Pradesh were steady from the previous day at INR 2,720 per 100 kg, local trader Gaurav Kochar said. Arrivals in the market were also steady at 1,300 bags (1 bag = 100 kg). Wheat prices in Navi Mumbai's Vashi market were steady at INR 2,775 per 100 kg, wholesale dealer Devendra Vora said. 

Prices of the 1401 basmati RICE variety were steady at INR 6,800 per 100 kg in the Vashi market, Vora said. Prices of broken rice also held steady at INR 2,700 per 100 kg, he added. Prices of sona masoori rice, a premium variety of non-basmati rice, were steady at Bhavanipuram in Andhra Pradesh at INR 5,000 per 100 kg, local trader Ravi Shankar said.

It is unlikely that rice prices will rise in the short term as there are ample stocks in both the global and domestic markets, Shankar said. "I do not see prices rising even in the long term as we have summer crop arrivals commencing from June and the kharif crop arrivals in October," he added.

Prices of MAIZE in Indore were unchanged from the previous day at INR 2,255 per 100 kg, Kochar said. Prices of maize at Davanagere in Karnataka were steady at INR 2,000-INR 2,200 per 100 kg. Arrivals were largely steady at 500 bags (1 bag = 60 kg), local trader Shiva Kumar said.  End

Edited by Saji George Titus

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