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Informist, Monday, Sept. 1, 2025

 

By J. Navya Sruthi

 

MUMBAI – Basmati rice prices rose Monday in key markets across the country as market participants feared damage to the ongoing kharif crop due to the recent heavy rains over northern India, traders said. Prices of wheat were steady while those of maize fell slightly on hopes of a higher supply, traders said. 

 

Prices of 1401 and 1121 basmati RICE in Navi Mumbai's Vashi rose by INR 200 to INR 7,500-INR 7,600 per 100 kilograms and INR 8,000-INR 8,300 per 100 kg, respectively, wholesale dealer Devendra Vora said. Punjab, Haryana, Chandigarh, and other parts of northern India have recorded heavy rainfall for the past 10 days. These rains are likely to cause slight damage basmati crop in a few parts of key growing regions, Vora said. 

 

Estimates for actual crop damage will be known only by next week, Vora added. The India Meteorological Department has predicted that heavy rainfall is likely to continue over northwest India during the week. According to data from the weather bureau, northwest India recorded 142?ove normal rainfall at 95.7 millimetres during the week ended Wednesday.  

 

Prices of the 5% broken rice were unchanged at INR 3,150 per 100 kg, Vora said. Prices of premium non-basmati rice variety Sona Masoori were also unchanged at INR 4,600 per 100 kg at Bhavanipuram in Andhra Pradesh's Vijayawada, local trader Ravi Shankar said. 

 

WHEAT prices at Indore in Madhya Pradesh were steady at INR 2,850 per 100 kg, Gaurav Kochar, local trader, said. Wheat prices at Vashi were steady at INR 2,800-INR 2,825 per 100 kg, Vora said.

 

Market participants said the government's move to reduce the stock limits on wheat held by traders is unlikely to impact prices, as they have remained steady so far. Tuesday, the government lowered the limits on wheat held by traders ahead of the festival season to keep prices in check. The government reduced the maximum quantity a wholesaler can hold to 2,000 tonnes from 3,000 tonnes. The stock limit for retailers was reduced to eight tonnes from 10 tonnes. For chain retailers, the stock limit has been reduced to eight tonnes per outlet, down from 10 tonnes.

 

MAIZE prices in Indore fell INR 10 to INR 2,340 per 100 kg, Kochar said. He attributed the fall to prospects of higher maize production. However, he also said there has been some crop damage due to unfavourable weather conditions, the impact of which will only be known later.

 

As of Aug. 22, the area under maize rose to 9.3 million hectares from 8.4 million hectares a year ago, according to data released by the Ministry of Agriculture and Farmers Welfare.  End

 

 

Edited by Saji George Titus

 

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