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Informist, Friday, Jun. 6, 2025

By J. Navya Sruthi

MUMBAI – Maize prices in Indore, Madhya Pradesh, rose slightly Friday as rabi arrivals started to decline in local markets, traders said. Prices of wheat and rice were steady from the previous day due to lack of new cues, traders said.  

Prices of MAIZE in Indore were slightly higher by INR 15 from the previous day at INR 2,280 per 100 kilograms, local trader Gaurav Kochar said. Rabi maize arrivals have declined compared to last week, because of which prices are in an uptrend, Kochar said. He expects prices to rise by INR 100 in the near term as the arrivals are expected to drop further.  

However, the upside will be restricted as ethanol plants prefer Food Corp. of India's rice to blend ethanol instead of maize. The Centre directed Food Corp. of India in May to earmark 5.2 million tonnes of surplus rice for ethanol use--more than double the earlier cap of 2.4 million tonnes. Consequently, ethanol orders from FCI rice are expected to surge to 3.45 billion litres, up from the earlier 674 million litres. In contrast, orders for ethanol made from maize are likely to be scaled down to 3.34 billion litres, compared to the earlier allocation of 4.84 billion litres. 

Prices of mill-quality WHEAT in Indore were steady at INR 2,720 per 100 kg, said Kochar. 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.

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

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. The 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 prices to remain stable with a slight downward bias, as the summer crop is expected to hit markets in July.  End

Edited by Avishek Dutta

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