More Stories

Informist, Thursday, May 15, 2025

By J. Navya Sruthi

MUMBAI – Wheat prices fell for the third consecutive day Thursday due to continued pressure from higher arrivals, traders said. Prices of rice and maize were steady from the previous day, they said.

Last week, wheat prices had risen due to lower arrivals amid tensions between India and Pakistan and continuous rains in major wheat-growing regions. On Monday, prices rose to INR 2,465 per 100 kilograms, up from INR 2,390 in the previous week. However, as rain stopped and the two neighbouring countries agreed to a ceasefire, arrivals in the local markets increased, pushing prices lower.

On Thursday, prices of WHEAT in Kota, Rajasthan, were down by INR 10-INR 15 at INR 2,420-INR 2,425 per 100 kg as pressure from arrivals continued, local trader Aniket Mehta said. Although arrivals on Thursday were down by 20,000 bags from the previous day at 100,000 bags, they were still higher than the 50,000-60,000 bags last week, Mehta said.

Prices are likely to remain steady in the near-term with a slight downward bias, traders said. They also expect arrivals to remain in the range of 80,000-100,000 bags per day in Kota. Prices of wheat in Delhi fell by INR 10 to INR 2,690 per 100 kg, according to traders. Currently, arrivals are higher across all markets in the country.

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 Vashi market of Navi Mumbai were steady at INR 2,775 per 100 kg, wholesale dealer Devendra Vora said.

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.

Maize prices in Karnataka have remained at the current level for more than two months despite lower arrivals as there is pressure from rabi arrivals in Andhra Pradesh, Madhya Pradesh, and Bihar, Kumar said. Currently, there is also no demand from ethanol plants and poultry farms as they have sufficient stocks, he said, adding that it is also restricting any rebound in prices.

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. Even in the long-term rice prices are unlikely to rise as the summer crop arrivals will commence from June and the kharif crop arrivals will start in October, he added.  End

Edited by Nishant Maher

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000  

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.