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Informist, Thursday, Jul. 31, 2025

By J. Navya Sruthi

MUMBAI – Prices of wheat, maize, and rice were steady in key markets across the country Thursday as there were no fresh cues, traders said. Wheat prices are likely to remain range-bound with a slight upward bias, market participants said.

WHEAT prices in Indore, Madhya Pradesh, were steady from the previous day at INR 2,870 per 100 kilograms, local trader Gaurav Kochar said. Prices of the staple grain in Vashi, Navi Mumbai, were steady at INR 2,800-INR 2,825 per 100 kg, said wholesale dealer Devendra Vora. Kochar said wheat prices could rise by INR 100-INR 200 till the government announces the date for open market sales. Most other traders expect prices to remain range-bound.

In Delhi, wheat prices rose by INR 10 to INR 2,900 per 100 kg, according to traders. Although prices rose, they are likely to remain range-bound in the near term and are unlikely to rise beyond INR 2,900 per 100 kg, market participants said and added that prices have reacted to news about government sales.

Last week, Food Secretary Sanjeev Chopra said the government sees no immediate need to start open market sales of wheat in the rabi marketing year 2025-26 (Apr-Mar) as prices are largely stable and there is adequate supply of the food grain in the market. The government typically begins wheat sales in the open market in July or August. The government has set a reserve price of INR 2,550 per 100 kg for open market sales of wheat in 2025-26.

Prices of 1401 basmati RICE in Vashi were steady at INR 7,300-INR 7,400 per 100 kg, Vora said. Prices of the 1121 basmati rice variety was also steady at INR 7,800-INR 8,000 per 100 kg. Prices of sona masoori rice were steady at INR 4,600 per 100 kg at Bhavanipuram in Andhra Pradesh's Vijayawada, local trader Ravi Shankar said. 

MAIZE prices in Indore were steady from the previous day at INR 2,350 per 100 kg, local trader Gaurav Kochar said. He said excess rainfall had damaged 30-40% of the maize crop in the Gwalior region of Madhya Pradesh, which is likely to support prices of the grain.  End

Edited by Ashish Shirke

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