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Informist, Monday, Jun. 9, 2025

By J. Navya Sruthi

MUMBAI – Maize prices rose slightly at Indore in Madhya Pradesh as rabi crop arrivals started declining, traders said. Prices of wheat and rice were steady from the previous day in key spot markets Monday, they said. 

Prices of MAIZE in Indore rose by INR 20 on Monday to INR 2,300 per 100 kilograms, local trader Gaurav Kochar said. Arrivals are declining in the domestic market as the rabi crop is almost done, which is supporting maize prices, Kochar said. With the next crop arrivals starting only after October, he expects maize prices to rise by INR 100 in the near term if demand persists. 
 

Kochar said the upside in maize prices will be restricted as ethanol plants now prefer Food Corp. of India's rice to blend ethanol instead of maize. While oil marketing companies are currently blending more ethanol from rice, limited rice stocks mean maize will likely see higher ethanol demand soon, supporting maize prices in the medium term.

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 were also steady from the previous day at INR 2,725 per 100 kg, local wholesale dealer Devendra Vora said. Prices of wheat in Kota in Rajasthan were steady at INR 2,450-INR 2,475 per 100 kg. Arrivals in Kota were down from the previous day by 2,000 bags to 20,000 bags (1 bag = 50 kg), local trader Aniket Mehta said. Arrivals fell as the peak season ended, Mehta said. 

Prices of basmati sella RICE variety in the Vashi 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 Saji George Titus

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