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Informist, Wednesday, Jun. 18, 2025

By J. Navya Sruthi and Shreya Shetty

MUMBAI – Prices of rice and maize were steady Wednesday while prices of wheat were mixed in most key spot markets across the country, traders said. Prices of basmati rice are expected to fall as the conflict between Israel and Iran poses a threat to export demand, they said. Prices of maize are likely to rise in the near term if demand remains good, they added.

Prices of basmati sella RICE variety in Navi Mumbai's Vashi market were steady at INR 6,000-INR 6,100 per 100 kilograms Wednesday, wholesale dealer Devendra Vora said. Prices of the 1121 basmati rice variety were also steady at INR 7,800 per 100 kg. Prices of broken rice remained steady at INR 2,700 per 100 kg, Vora said.

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. He said prices are likely to remain at the current levels with a movement of INR 100-INR 200 on either side. 

However, according to market participants, prices of basmati rice, which fell more than 10% in a month, are expected to fall further by about 20% in the near future on account of the Israel-Iran conflict. Demand for basmati rice from Iran, the third-largest importer of the grain from India, may decline significantly, they said.

In 2024-25 (Apr-Mar), India exported over 6 million tonnes of basmati rice, of which 14% were exported to Iran. While exports to the third-largest buyer of Indian basmati rice in FY25 were 855,133 tonnes, as per government data, shipments to Dubai and Iraq were also shipped to Iran, Paharia said. Total exports, including those to Dubai and Iraq, in FY25 were at 2 million tonnes, he added.

WHEAT prices in Navi Mumbai's Vashi market were steady from the previous day at INR 2,725 per 100 kg, Vora said. Prices of the staple grain in Delhi fell by INR 20 from the previous day to INR 2,730 per 100 kg, according to traders. Prices fell in some markets as the market expects the government to start open-market sales next month, local trader Aniket Mehta said.

Prices of MAIZE in Indore, Madhya Pradesh, were steady at INR 2,300 per 100 kg, according to traders. With the next crop due to arrive only after October, traders expect maize prices to rise by INR 100 per 100 kg in the near term if demand remains good.

According to data from the farm ministry, the area under maize was down nearly 16% on year at 360,000 hectares as of Tuesday. The area under paddy, one of the main kharif crops, was up over 13% on year at 453,000 hectares due to increased demand from the ethanol sector.  End

Edited by Nishant Maher

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