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Informist, Thursday, Jun. 12, 2025

By J. Navya Sruthi

MUMBAI – Wheat prices fell in most markets Thursday as trade entities offloaded grain to abide with the government's stock limits imposed May 28, market participants said. Prices of rice and maize were steady from the previous day owing to a lack of fresh cues, they said. 

Prices of WHEAT in Kota, Rajasthan, fell INR 10 to INR 2,430-INR 2,440 per 100 kg as the market expects the government to start open market sales next month, local trader Aniket Mehta said. Arrivals in the market were at 20,000 bags (1 bag = 50 kg), down 5,000 bags from the previous day, Mehta said. Although arrivals fell from the previous day, they remained in a range of 20,000-25,000 bags, which is usual during June, he added.

Prices of the grain also fell Thursday with the end of the 15-day period given by the government to all trade participants to bring their wheat stocks within the prescribed limit, Rahul Chauhan, director at IGrain, said. This has led trade entities to offload their stocks to bring them within the prescribed limits, in turn weighing on prices, he said. Prices of the staple grain were down INR 25 at INR 2,725 per 100 kg in Delhi, according to traders.

On May 28, the Centre reimposed limits, valid till Mar. 31, on the quantity of wheat that trade entities can hold. A wheat trader or wholesaler cannot stock more than 3,000 tonnes and retailers can stock only 10 tonnes in each of their outlets. For big retail chains, the stock limit is 10 tonnes per retail outlet and 10 tonnes multiplied by the number of outlets in depots.

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. Prices of mill-quality wheat in Indore, Madhya Pradesh, were also steady at INR 2,730 per 100 kg, said local trader Gaurav Kochar.

Prices of basmati sella RICE variety in 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 also steady at INR 5,200 per 100 kg at Bhavanipuram in Andhra Pradesh's Vijayawada, local trader Ravi Shankar said.

Rice stocks with the Food Corp. of India as of Jun. 1 stayed at a two-decade high of 38 million tonnes, up 17% on year. Traders expect rice prices to remain steady in the near term due to lack of fresh cues.

Prices of MAIZE in Indore, Madhya Pradesh, were steady at INR 2,300 per 100 kg, Kochar said. With the next crop due to arrive only after October, he expects maize prices to rise by INR 100 in the near term if demand remains good. He expects farmers to shift from crops like soybean and groundnut to maize, given the better returns the cereal has got in the kharif season 2024-25 (Oct-Sept).  End

Edited by Nishant Maher

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