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Informist, Wednesday, Jul. 9, 2025

By J. Navya Sruthi

MUMBAI – Prices of grains were steady in most key spot markets in the country Wednesday, traders said. Wheat prices are likely to remain rangebound in the near term, they said.

WHEAT prices at Indore in Madhya Pradesh were steady from the previous day at INR 2,730 per 100 kg, local trader Gaurav Kochar said. Prices of the staple grain in Kota, Rajasthan, were largely unchanged from the previous day at INR 2,475-INR 2,500 per 100 kg, local trader Aniket Mehta said. Arrivals were up by 1,000 bags at 7,000 bags (1 bag = 50 kg), Mehta said. The price of wheat in the Vashi market in Navi Mumbai was steady at INR 2,725 per 100 kg, said Devendra Vora, a local wholesale dealer. Wheat prices in Delhi were also unchanged from the previous day at INR 2,750 per 100 kg, traders there said.

Rahul Chauhan, director, IGrain, said wheat prices are likely to remain steady in a range in the near term. Also, the government is happy with current wheat prices in domestic markets, so it is unlikely for the government to start wheat open market sales until September, he said. Probably before the Centre starts selling wheat it will tighten stock holding limits for trade entities further, Chauhan said. "Government knows there is enough wheat in market and till that wheat is sold, it is unlikely to start open market sales," he added. The government may consider tightening stock limits before starting open market sales for the grain, he said. 

According to media reports, the government has set a price of INR 2,550 per 100 kg for the open market sales scheme in the rabi marketing year 2025-26 (Apr-Mar), up from INR 2,325 per 100 kg for fair and average quality wheat in 2024-25. Wheat prices in open market may rise if the government sells wheat at INR 2,550 per 100 kg, Chauhan said and added there are no other supporting factors. 

MAIZE prices in Indore were steady at INR 2,270 per 100 kg, Kochar said. In the medium term, prices could reach INR 2,400 per 100 kg, he said. The demand for maize is stable as low-cost rice is being diverted to ethanol production, he said. Maize may see a major price boost only if the government halts sales of rice for ethanol, he said.

However, Chauhan said although there is a shift from maize to rice currently, it is temporary and only a million tonne of rice was lifted by ethanol plants as of May. Amid ample stocks with the Food Corp. of India, the government has increased its rice allocation for ethanol production and allowed distilleries to buy the grain directly from the nodal agency. A total of 5.2 million tonnes of rice has been earmarked for 2024–25, including a recent addition of 2.8 million tonnes. Distilleries can now lift rice until Oct. 31, extending the earlier deadline of Jun. 30.

Prices of basmati sella RICE at Vashi were steady at INR 6,000-INR 6,100 per 100 kg, Vora said. Prices of the 1121 basmati rice variety and broken rice were also steady at INR 7,800 per 100 kg and INR 2,700 per 100 kg, respectively, he said. Prices of sona masoori rice were steady at INR 5,200 per 100 kg at Bhavanipuram in Vijaywada, Andhra Pradesh, local trader Ravi Shankar said.  End

Edited by Akul Nishant Akhoury

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