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Informist, Tuesday, Jun. 3, 2025

By J. Navya Sruthi

MUMBAI – Basmati prices rose in the domestic market Tuesday on the improvement of global demand and low stocks, traders said. However, prices of other rice varieties, wheat and maize were steady in key markets in the country due to a lack of new cues, they said. 

Prices of basmati sella RICE variety at Vashi in Navi Mumbai rose by INR 200 to INR 6,400-INR 6,500 per 100 kg, local wholesale dealer Devendra Vora said. Prices of 1401 and 1509 basmati varieties also rose by INR 200 to INR 7,000-INR 7,100 and INR 7,100-INR 7,200, respectively. There is an improvement in international demand, which led to a rebound in domestic prices, Vora said. Also, rice boilers were shut all these days due to summer heat, which led to low stocks with traders and boosted prices, he said.

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

Prices of mill-quality WHEAT at Indore in Madhya Pradesh were steady at INR 2,700 per 100 kilogram, Gaurav Kochar, a local trader, said. Arrivals were also steady from the previous day at 4,000 bags (1 bag = 100 kg). Wheat prices at Vashi were also steady at INR 2,725 per 100 kg, Vora said. Prices of wheat in the benchmark market of Delhi were steady at INR 2,750 per 100 kg, according to traders.

Prices of mill-quality wheat at Kota in Rajasthan were steady at INR 2,450 per 100 kg, local trader Aniket Mehta said. Arrivals in Kota were down by 3,000 bags at 17,000 bags (1 bag = 50 kg), due to continuous rains in the state, Mehta said. In the near term, Mehta expects wheat arrivals to fall as the monsoon has begun. Farmers do not prefer selling wheat during the rainy season as there are more chances for the grain to be damaged. In the near term, traders expect prices to remain steady. The government's open market sales of wheat will decide the future course of prices, they said.  

Prices of MAIZE in Indore also remained steady 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, saying farmers in Rajasthan are also likely to prefer maize over other crops this season, regardless of monsoon progress.  End

Edited by Saji George Titus

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