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Informist, Friday, May 30, 2025

By J. Navya Sruthi

MUMBAI – Maize prices rose in key markets in the country Friday due to firm demand, traders said. Prices of wheat and rice were steady from the previous day due to lack of fresh cues. 

Prices of MAIZE at Indore in Madhya Pradesh were up by INR 20 at INR 2,245 per 100 kilograms due to firm demand, local trader Gaurav Kochar said. Traders also said arrivals of maize have started to recede in market, which is also pushing prices higher. 

For 2025-26 (Oct-Nov), the government increased the minimum support price of maize by INR 175 or 8% on year to INR 2,400 per 100 kg. Kochar expects soybean farmers to shift to maize in the upcoming kharif season due to better returns in maize. "Soyabean prices are at INR 500-INR 600 per 100 kg below the MSP," he said.

Prices of WHEAT at Indore were steady from the previous day at INR 2,720 per 100 kg, Kochar said. Arrivals were largely unchanged at 3,700 bags (1 bag = 100 kg). Wheat prices at Vashi in Navi Mumbai were steady from the previous day at INR 2,725 per 100 kg, wholesale dealer Devendra Vora said. Prices of wheat in the benchmark market of Delhi were steady at INR 2,750 per 100 kg, according to traders.

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 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 kg and INR 2,389 per 100 kg, respectively.  End

Edited by Akul Nishant Akhoury

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