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Informist, Thursday, May 22, 2025

By J. Navya Sruthi

MUMBAI – Wheat prices rose slightly Thursday at Kota in Rajasthan and Indore in Madhya Pradesh due to firm demand, traders said. Prices of maize and rice were steady from the previous day in key markets in the country, traders said. 

Prices of mill-quality WHEAT in Kota rose slightly by INR 5 to INR 2,440 per 100 kilogram as demand improved from the previous day, local trader Aniket Mehta said. Arrivals were also higher at 60,000 bags from 40,000-45,000 bags (1 bag = 50 kg) previous day, Mehta said. 

Prices of wheat in Indore were up by INR 20 at INR 2,740 per 100 kg, according to local trader Gaurav Kochar. Arrivals in the market remained stable at 3,000 bags (1 bag = 100 kg). Wheat prices in the Vashi market in Navi Mumbai were steady at INR 2,800 per 100 kg, wholesale dealer Devendra Vora said.

Mehta said wheat prices are likely to remain range-bound with an upward bias till Jun. 15 as there will be continuous buying. "Traders and stcokists will buy wheat in advance and stock it for later," he added. 

Traders also said there were rumours about the government reimposing stock limit on wheat held by traders, millers, and other market participants. Since Apr. 1, there have been no restrictions on wheat holdings. Earlier, the government had capped wheat stocks at 250 tonnes for traders or wholesalers, 4 tonnes for retail outlets, and 4 tonnes per outlet for large retail chains.

Prices of MAIZE in Indore were steady at INR 2,235 per 100 kg, after falling for two consecutive days, Kochar said. Prices are currently at lowest and there is no scope for them to fall further, he added. While prices declined due to higher arrivals, it is likely that prices will rise about INR 200 per 100 kg from the current level as the rabi and summer maize arrivals are receding, he said. 

Prices of maize at Davanagere in Karnataka held 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.

Prices of 1401 basmati RICE variety remained steady in Vashi market at INR 6,800 per 100 kg, according to Vora. Prices of broken rice were also stable 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, said local trader Ravi Shankar.  End

Edited by Akul Nishant Akhoury

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