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Informist, Monday, Feb. 2, 2026

 

By Udita S. Jaiswal

 

MUMBAI – Prices of wheat fell in the Vashi market in Navi Mumbai on Monday due to low demand from millers, while it remained steady in other key spot markets, traders said. Prices of rice and maize were steady due to lack of fresh cues, they said. Prices of wheat and maize are expected to fall once arrivals of new rabi crops begin, they said. 

 

WHEAT prices in Vashi fell by INR 50 per 100 kilograms to INR 2,850 per 100 kg due to low demand from millers, Devendra Vora, a wholesale trader, said. Prices of wheat in Indore, Madhya Pradesh, remained steady at INR 2,740 per 100 kg due to lack of fresh cues, said Gaurav Kochar, a local trader. Prices of wheat in Kota, Rajasthan, were largely steady at INR 2,470-INR 2,520 per 100 kg, said Ravi Mehta, a local trader. Arrivals in the Kota market stood at 3,000 bags (1 bag = 50 kg).

 

Traders expressed dissatisfaction with the Budget presented on Sunday by Finance Minister Nirmala Sitharaman, saying it failed to adequately address the concerns of the middle class. Traders also flagged the lack of focused steps to reduce imports of foodgrains, despite India's heavy dependence on overseas supplies for these commodities. According to them, continued reliance on imports could hurt domestic farmers and traders, while also keeping price volatility elevated in local markets. Overall, they said the Budget missed an opportunity to strengthen domestic demand and support local agricultural supply chains.

 

"We are not happy," Vora said. "...It's our government, we voted for them, and they sidelined us (middle class, farmers) and paid attention to 5% of the people," he said. Meanwhile, Kochar said, "Support continues, but nothing game-changing for grain farmers. More continuity than relief."  

 

Prices of MAIZE in Indore were steady at INR 1,725 per 100 kg due to lack of fresh cues, Kochar said. "Prices are expected to fall by INR 100 per 100 kg as the new rabi arrivals will start," he said. Maize prices in Davangere, Karnataka, were largely steady at INR 1,700-INR 1,900 per 100 kg due to low market activity, said Shiva Kumar, a local trader. Arrivals in the market were also steady at 5,000 bags (1 bag = 60 kg), he said.

 

Prices of the main varieties of RICE remained steady in Vashi. The 1401 and 1121 varieties of basmati rice were steady at INR 8,000-INR 8,200 per 100 kg and INR 8,400-INR 8,800 per 100 kg, respectively, due to lack of fresh cues, Vora said.

 

Prices of sona masoori rice, a premium non-basmati variety, were also steady at INR 5,600-INR 5,800 per 100 kg at Bhavanipuram in Vijayawada, Andhra Pradesh, said Ravi Shankar, a trader. Prices are likely to remain unchanged for the next two months due to subdued demand in the market, he said.  End

 

Edited by Avishek Dutta

 

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