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Informist, Thursday, Jun. 5, 2025

By J. Navya Sruthi

MUMBAI – Prices of wheat, rice, and maize were steady in key markets of the country Thursday due to lack of fresh cues, traders said. However, market participants expect wheat prices to rise slightly in the near-term due to rising demand and decreasing arrivals.

Prices of mill-quality WHEAT at Indore in Madhya Pradesh were steady at INR 2,720 per 100 kilograms, said Gaurav Kochar, a local trader. Prices of wheat in the benchmark market of Delhi were steady at INR 2,735 per 100 kg, according to traders. Wheat prices in Navi Mumbai's Vashi market were also steady from the previous day at INR 2,725 per 100 kg, local wholesale dealer Devendra Vora said. However, in Kota, Rajasthan, prices fell slightly by INR 5 to INR 2,440 per 100 kg due to low demand, said local trader Aniket Mehta.

Rahul Chauhan, director of IGrain, expects wheat prices to rise slightly hereon due to increasing demand and lower arrivals. After the peak arrivals season, wheat prices tend to rise as arrivals decrease and during Aug-Nov. Wheat prices rise further due to festival demand. Chauhan said wheat prices could rise by another INR 200 to around INR 2,900 per 100 kg in Delhi.

Prices of MAIZE in Indore were steady from the previous day at INR 2,265 per 100 kg, Kochar said. However, the trader expects prices of maize to rise by INR 100 in future due to decreasing arrivals. 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, irrespective of the progress of the monsoon.

Prices of basmati sella RICE variety in the Vashi market were steady at INR 6,400-INR 6,500 per 100 kg, Vora said. 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. Shankar expects the price to remain stable with a slight negative bias, as the summer crop is expected to hit the markets in July.

Meanwhile, due to ample rice stocks with the government, the ethanol industry sees supply of ethanol sourced from rice increasing and that from maize slipping slightly. According to industry sources, oil marketing companies revised their ethanol supply orders for 2024–25 (Nov–Oct) to 10.50 billion litres, up from the previously allocated 9.97 billion litres.  End

Edited by Nishant Maher

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