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Informist, Wednesday, Feb. 4, 2026

 

By Udita S. Jaiswal

 

MUMBAI – Prices of wheat fell in Indore, Madhya Pradesh, on Wednesday ahead of the new rabi arrivals likely by mid-February, while it remained steady in other key markets, traders said. Prices of rice and maize remained steady due to a lack of fresh cues, they said. Maize prices are expected to fall in the near term as new rabi arrivals begins. 

 

WHEAT prices in Indore fell INR 10 per 100 kilograms to INR 2,730 per 100 kg ahead of new rabi arrivals, 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 rose 500 bags to 3,000 bags (1 bag = 50 kg), he said. Prices of wheat in Vashi, Navi Mumbai, also remained steady at INR 2,850 per 100 kg due to lack of fresh cues, Devendra Vora, a wholesale trader, said.

 

Food Corp. of India will offer 126,000 tonnes of wheat in its online auction under the 2025-26 open market sales scheme on Wednesday, sources told Informist Monday. Last Wednesday, FCI offered 117,000 tonnes and sold nearly 73% or around 85,000 tonnes of wheat. In the upcoming auction, FCI will offer 26,000 tonnes of wheat to Punjab, 23,000 tonnes to Assam, and 10,000 tonnes to Haryana, according to market sources. FCI will offer 8,000 tonnes to Uttar Pradesh and 7,500 tonnes each to Karnataka and Tamil Nadu. 

 

MAIZE prices remained steady in Indore at INR 1,740 per 100 kg due to a lack of fresh cues, Kochar said. However, prices are expected to fall INR 100 per 100 kg as the new rabi arrivals begin, Kochar said. Maize prices at Davangere in Karnataka remained unchanged at INR 1,700–1,900 per 100 kg due to tepid market activity, said Shiva Kumar, a local trader. "There is no demand in the market," he said. Arrivals in the market were steady at 6,000 bags (1 bag = 60 kg). 

 

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 a 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 Andhra Pradesh's Vijayawada, said Ravi Shankar, a trader. Prices are likely to remain unchanged for the next two months due to subdued demand, he said.

 

The Indian Rice Exporters' Federation expects rice shipments to the US to rise after Washington signalled a cut in reciprocal tariffs on Indian goods. The move is seen narrowing the tariff gap with rivals such as Thailand and Pakistan, improving price competitiveness and lifting export volumes in the coming months. 

 

"The trade is also expecting that, in view of public statements by US authorities, the additional penalty being discussed in relation to India's purchase of Russian oil may be waived," the federation said. If confirmed, India's effective tariff burden would fall sharply from "the current elevated levels to 18%, restoring parity with key competing origins such as Thailand and Pakistan, where competitor nations are currently tariffed at around 19%," it added.  End

 

Edited by Tanima Banerjee

 

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