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Informist, Thursday, Feb. 12, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of wheat fell Thursday in key spot markets across the country, weighed down by a rise in arrivals of the new rabi crop, traders said. Maize and rice prices were steady in key markets, they said. Maize prices were steady ahead of the arrival of new crops, while rice prices were unchanged amid low market activity, they said.

 

Prices of WHEAT in Indore, Madhya Pradesh, fell by INR 40 per 100 kilograms Thursday to INR 2,660 per 100 kg, said Gaurav Kochar, a local trader. The price of wheat at Vashi in Navi Mumbai, Maharashtra, fell by INR 50 from Wednesday to INR 2,750 per 100 kg, said Devendra Vora, a wholesale trader. 

 

Though the new crop arrivals have a high moisture content, it is likely to dry out soon, Vora said. With expectations of a record rise in production this year, prices are expected to be in a near-term downtrend, he said. "The only way to prevent wheat prices from staying in the lower range for a long time will be to open up exports," he said. While the government has allowed exports of up to 500,000 tonnes of wheat flour and related products, it is not helping the market, he said. "The process of registration for exporting wheat products is strenuous, and applications are usually snatched up by big companies, so this (the opening of exports) is of no use to small farmers and traders," he said.

 

Wheat prices can be supported in the near term only if the government allows exports under the open general licence, Vora said. 

 

Prices of MAIZE in Indore were steady at INR 1,715 per 100 kg, Kochar said. Prices are likely to be under pressure in the near term due to arrivals of the rabi crop and cheap imports of dried distillers' grains with solubles from the US, he said. 

 

The government has clarified that duty concessions on US imports of dried distillers' grains with solubles under the interim trade deal will be capped at 500,000 tonnes in the first phase. However, this is unlikely to prevent maize prices from falling further, Kochar said. "500,000 tonnes is only a preliminary approval. More imports may follow if required. The import window has been kept open to stabilise supply," he said. 

Dried distillers' grains with solubales is a by-product derived when maize is crushed for ethanol. With the government encouraging the use of rice for producing ethanol, crushing maize for ethanol is down 20%, Kochar said. This has reduced the production of dried distillers' grains, a crucial ingredient in animal feed, prompting US exports at lower prices, he said.

 

Prices of maize at Davangere in Karnataka were steady at INR 1,700–INR 1,900 per 100 kg, said Shiva Kumar, a local trader. Arrivals in the market were steady at 4,000 bags (1 bag = 60 kg), he said.

 

Prices of the main varieties of RICE remained unchanged 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 are expected to remain range-bound in the near term due to low market activity, he 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 local trader. Prices are likely to remain unchanged in the near term due to seasonally low demand, he said.  End

 

Edited by Saji George Titus

 

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