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Informist, Tuesday, Aug. 19, 2025

 

By J. Navya Sruthi

 

MUMBAI – Prices of wheat, maize, and rice were steady in key markets across the country Tuesday due to lack of fresh cues, traders said. They expect wheat prices to rise in the near term due to firm demand ahead of festivals. 

 

WHEAT prices in Vashi, Navi Mumbai, were stable at INR 2,800-INR 2,825 per 100 kilograms, said Devendra Vora, a wholesale dealer. There was not much trade on Tuesday due to extreme rainfall in the city, he said, adding that there has been no damage to any grain because of the rain.

 

The India Meteorological Department has issued a red alert in Mumbai for extremely heavy rainfall till Wednesday. From Saturday till 1430 IST Tuesday, the weather department's Mumbai Santacruz station recorded 817.5 millimetres while Mumbai Colaba station recorded 315.6 millimetres, according to a social media post on X by the weather department. 

 

Vora said wheat prices are expected to rise by INR 100 per 100 kg in the near term due to firm demand ahead of festivals and lack of wheat sales by the government so far. Market participants expect the government to begin open-market sales of wheat before Diwali, which is in the second half of October. The government usually starts open-market wheat sales in July or August. For the 2025–26 rabi marketing year, the government has set a reserve price of INR 2,550 per 100 kg for these sales.

 

MAIZE prices in Indore remained steady at INR 2,400 per 100 kg, local trader Gaurav Kochar said. However, low arrivals and firm demand from poultry sector is likely to support maize prices, traders said. Currently, maize arrivals are low as there is no crop left from the previous season and arrivals of the new kharif crop begin only in October, he said.

 

Amid heavy showers over key maize growing regions in the kharif season, traders said there might be some crop loss which is likely to support prices. However, there will be more clarity about acreage once the final kharif sowing report is out. The overall trend for maize prices is likely to remain sluggish due to availability of cheaper substitutes such as rice sold by the Food Corp. of India at only INR 22.5 per kg to ethanol plants, traders said.

 

Rahul Chauhan, director at IGrain, an agri-commodity research agency, said the nodal food procurement agency has sold 1.35 million tonnes rice to ethanol plant as of June in the current kharif marketing season which ends in September. In 2023-24 (Oct-Sept), the agency sold 896,000 tonnes rice to ethanol plants. 

 

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

 

According to Shankar, prices are expected to remain steady until October with a slight downward bias. Prices may decline once the new crop arrives in the market in October, he said.  End

 

Edited by Subhojit Sarkar

 

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