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Informist, Thursday, May 29, 2025

By J. Navya Sruthi

MUMBAI – Wheat prices fell in key markets in the country Thursday as the government re-imposed limits on the quantity of grain that can be stocked, traders said. The government also increased its estimate for wheat production in 2024-25 (Jul-Jun) to 117.5 million tonnes from 115.4 million earlier. Prices of maize and rice were steady from the previous day due to lack of fresh cues, traders said. 

Prices of WHEAT at Indore in Madhya Pradesh fell INR 10 to INR 2,720 per 100 kilogram, according to local trader Gaurav Kochar. Arrivals were largely unchanged at 3,700 bags (1 bag = 100 kg). Wheat prices at Vashi in Navi Mumbai declined INR 25 to INR 2,725 per 100 kg, wholesale dealer Devendra Vora said. Prices of wheat in the benchmark market of Delhi fell by INR 20 to INR 2,750 per 100 kg, according to traders. In Rajasthan's Kota, prices were down by INR 10-INR 15 at INR 2,450-INR 2,465 per 100 kg, a local trader Aniket Mehta said.   

The Centre Wednesday re-imposed stock limits for the quantity of wheat that trade entities can stock till Mar. 31, 2026. A wheat trader or wholesaler cannot stock more than 3,000 tonnes and retailers can stock only 10 tonnes in each of their outlets. For big chain retailers, the stock limit is 10 tonnes for each retail outlet and in depots, stock of 10 tonnes multiplied by the total number of outlets.

The market believed the announcement was more symbolic than substantive and aimed at signalling the government's sensitivity to prices rather than triggering an immediate correction in wheat prices. Experts and market participants said they do not see a major fall in wheat prices as there is enough breathing space.

Prices of MAIZE in Indore were steady from the previous day at INR 2,225 per 100 kg, Kochar said. He expects soybean farmers to shift to maize in the upcoming kharif season due to better returns in maize. "Soyabean prices are trading INR 500-INR 600 below the MSP," he said.

Prices of basmati sella RICE variety in Vashi market were steady at INR 6,100-INR 6,200 per 100 kg, Vora said. Prices of broken rice were also stable at INR 2,700 per 100 kg, he said.

The government on Wednesday announced a 7.9% increase in the minimum support price of maize to INR 2,400 per 100 kg. The government has also increased the minimum support price of paddy common and grade A varieties by 3.0% each to INR 2,369 per 100 kilograms and INR 2,389 per 100 kg, respectively. 

India's food grain output for 2024-25 is estimated at a record 353.9 million tonnes due to record production of rice, maize, groundnut and soybean, according to the third advance estimates released by the government on Wednesday. The country's rice output this season is pegged at 149.1 million tonnes compared with 137.8 million tonnes the previous year. Maize production is seen at 42.3 million tonnes this year, against 37.7 million tonnes last year.  End

Edited by Akul Nishant Akhoury

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