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Informist, Wednesday, Oct. 15, 2025

 

By Udita S. Jaiswal

 

MUMBAI – Prices of wheat, rice, and maize were steady Wednesday in key spot markets on the lack of fresh cues, traders said. Prices of maize are expected to fall after Diwali festival due to increased arrivals, they added. 

 

Prices of WHEAT at Kota in Rajasthan were steady at INR 2,500 per 100 kilograms, Aniket Mehta, a local trader, said. Arrivals in Kota were also unchanged at 10,000 bags (1 bag = 50 kg). Prices of wheat at the Vashi market in Navi Mumbai were steady at INR 2,800-INR 2,825 per 100 kg due to lack of fresh cues, Devendra Vora, a wholesale trader, said.  

 

The long-term outlook for wheat remains bearish due to prospects of higher production of the rabi crop. Traders expect the area under wheat to rise 2-3% on year due to better returns compared to other crops. Earlier this month, the government increased the minimum support price of wheat to INR 2,585 per 100 kg for the rabi marketing year 2026-27 (Apr-Mar), from INR 2,425 per 100 kg earlier. 

 

Wheat stocks with Food Corp. of India as of Oct. 1 fell nearly 4% on month, declining for the fifth consecutive month since Jun. 1. However, wheat stocks in the central pool were up nearly 35% on year at 32.0 million tonnes, a four-year high for the beginning of October. Stocks are also well above the buffer norm of 20.5 million tonnes, which includes an operational stock of 17.5 million tonnes and strategic reserve of 3.00 million tonnes.

 

Typically, wheat stocks fall from June onwards as it marks the end of procurement operations and the government begins distributing the staple grain under the public distribution system.

 

Prices of the new MAIZE crop at Davanagere in Karnataka were largely steady at INR 1,600–INR 2,100 per 100 kg, Shiva Kumar, a local trader, said. Arrivals in Davangere were also steady at 10,000 bags (1 bag = 60 kg), he said.

 

Maize prices are likely to fall by INR 100-INR 200 on low demand after Diwali as arrivals are likely to increase, Kumar said. Arrivals are expected to rise up to 50,000 bags after Diwali, as traders are not bringing in the crops ahead of the festival, he said.

 

Traders expect kharif maize production during 2025 to remain unchanged from last year. In the 2024 kharif season, maize output was 24.84 million tonnes, according to the government's third advance estimate. 

 

Prices of major RICE varieties across key markets were unchanged due to lack of fresh cues. Basmati rice varieties, 1401 and 1121, were unchanged at INR 7,500-INR 7,600 per 100 kg and INR 8,000-INR 8,300 per 100 kg, respectively, Vora said. The price of 5% broken rice in Vashi was unchanged at INR 3,150 per 100 kg, Vora said. The price of sona masoori rice, a premium non-basmati rice, also remained unchanged at INR 5,000 per 100 kg at Bhavanipuram in Andhra Pradesh's Vijayawada due to demand and supply being on par, Ravi Shankar, a local trader, said. Prices are likely to remain unchanged till December, he said. 

 

Rice stocks in the central pool as of Oct. 1 were over 3.5% lower from the previous month and up nearly 15% on year at 35.6 million tonnes. The current rice stocks are at a two-decade high for the beginning of October. Stocks are significantly above the buffer norm of 10.25 million tonnes, comprising operational stock of 8.25 million tonnes and strategic reserve of 2.00 million tonnes.  End

 

Edited by Tanima Banerjee

 

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