More Stories

Informist, Wednesday, Jun. 4, 2025

By J . Navya Sruthi

MUMBAI – Prices of wheat and maize rose in Indore, Madhya Pradesh, Wednesday as arrivals of both cereals fell on account of continuous rainfall, traders said. Prices of rice were steady in key markets owing to the lack of new cues, traders said.

Prices of mill-quality WHEAT at Indore were up INR 20 from the previous day at INR 2,720 per 100 kg on reduced arrivals, Gaurav Kochar, a local trader, said. Arrivals fell 1,000 bags from the previous day to 3,000 bags (1 bag = 100 kg), because of continuous rains in the state, he said. 

Prices of wheat in the benchmark market of Delhi were down INR 15 at INR 2,735 per 100 kg, according to traders. Wheat prices in Navi Mumbai's Vashi market were steady from the previous day at INR 2,725 per 100 kg, local wholesale dealer Devendra Vora said. Traders expect wheat prices to fall in the near term as they expect the government will start open market sales of the commodity.

Prices of MAIZE in Indore were up INR 20 at INR 2,265 per 100 kg as arrivals decreased on account of continuous rains, Kochar said. Despite low demand for maize due to availability of cheaper rice for ethanol plants, prices of maize are likely to rise by INR 100 due to decreasing arrivals, he said. The government has been sitting on huge stockpiles of rice and to clear these it has allowed ethanol plants to buy rice directly from the states at a subsidised rate of INR 2,250 per 100 kg. This move is likely to weigh on demand for maize.

Kochar expects soybean farmers to switch to maize in the upcoming kharif season due to better returns. Several other traders echoed the sentiment, saying farmers across the country are also likely to prefer maize over other crops this season, regardless of the progress of the monsoon.

Prices of basmati sella RICE variety at Vashi were steady at INR 6,400-INR 6,500 per 100 kg, Vora said. Prices of 1401 and 1509 basmati varieties were steady at INR 7,000-INR 7,100 and INR 7,100-INR 7,200, respectively. Prices of broken rice remained steady at INR 2,700 per 100 kg. Price of sona masoori rice was steady at INR 5,200 per 100 kg at Bhavanipuram in Andhra Pradesh's Vijayawada, local trader Ravi Shankar said. He expects the price to remain stable, with a slight negative bias, as the summer crop is expected to hit the markets in July.  End

Edited by Rajeev Pai

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.

Informist Media Tel +91 (22) 6985-4000  

Send comments to feedback@informistmedia.com

© Informist Media Pvt. Ltd. 2025. All rights reserved.