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Informist, Monday, Jun. 2, 2025

By J. Navya Sruthi

MUMBAI – Prices of maize and rice remained steady from the previous day in key markets in India on Monday amid lack of new cues, traders said. However, wheat prices were down in Indore, Madhya Pradesh, but rose in Kota, Rajasthan.

Prices of mill-quality WHEAT at Indore fell INR 20 to INR 2,700 per 100 kilogram due to higher arrivals, according to local trader Gaurav Kochar. Arrivals rose by 300 bags to 4,000 bags (1 bag = 100 kg). Usually, arrivals increase on Mondays as the market remains shut during the weekend.  

Prices of the same variety wheat in Kota were up by INR 10-INR 15 at INR 2,450 per 100 kg, driven by improved demand at the start of the month, local trader Aniket Mehta said. Arrivals in Kota were largely steady from the previous day at 20,000 bags (1 bag = 50 kg). Wheat prices at Vashi in Navi Mumbai held steady at INR 2,725 per 100 kg, wholesale dealer Devendra Vora said. Prices of wheat in the benchmark market of Delhi rose by INR 20 to INR 2,750 per 100 kg, according to traders.

Vora expects wheat prices to remain stable in the near term. He expects any movement only after Jun. 15 when the government's decision about allowing exports of wheat products will be clear. The government in its third advance estimates has pegged 2024-25 (Jul-Jun) wheat output at 117.5 million tonnes, higher than 113.3 million tonnes. However, the market said the government is not likely to allow wheat exports as it prioritises food security over exports so that it can replenish its stocks. But market participants expect the government to allow exports of wheat products such as atta on back of high production. 

The government had banned wheat exports in May 2022 to control domestic prices and improve availability in markets, later extending the ban to wheat products in August 2022 amid concerns over global supply shortages.

Prices of basmati sella RICE variety at Vashi market were stable at INR 6,100-INR 6,200 per 100 kg, Vora said. Prices of broken rice remained steady at INR 2,700 per 100 kg. Prices of sona masoori rice variety held steady from the previous day at INR 5,200 per 100 kg at Bhavanipuram in Vijayawada, Andhra Pradesh, local trader Ravi Shankar said. He expects prices to remain mostly stable, with a slight negative bias as the summer crop is expected to hit markets in July.

Prices of MAIZE in Indore also remained steady from the previous day at INR 2,245 per 100 kg, Kochar said. He expects soybean farmers to switch to maize in the upcoming kharif season due to better returns. Mehta echoed similar sentiments for Rajasthan, saying farmers are likely to prefer maize over other crops this season regardless of monsoon progress, citing strong demand and profitability.  End

Edited by Subhojit Sarkar

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