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Informist, Wednesday, Mar. 4, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of grains in most key spot markets across the country were unavailable as they are shut for Holi, traders said. Prices of wheat and rice were unchanged in the Vashi market in Navi Mumbai, Maharashtra, amid low market activity, they said.

 

WHEAT prices in Vashi were steady at INR 2,700 per 100 kg, said Devendra Vora, a wholesale trader. Most markets across the country are shut for Holi, he said. This year, some states observed Holi on Tuesday, while others are celebrating it on Wednesday due to variations in the Hindu lunar calendar, traders said.

 

Wheat prices in Indore, Madhya Pradesh, were unavailable as the market was shut for Holi, said Gaurav Kochar, a local trader. Prices of wheat in Kota, Rajasthan, were also unavailable for the same reason, said Ravi Mehta, a local trader. Markets will reopen Thursday, they said.

 

MAIZE prices in Indore were unavailable, Kochar said. Prices in Davangere, Karnataka, were also unavailable, said Shiva Kumar, a local trader.

 

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, Vora said. Prices were unchanged due to tepid market activity, he said.

 

India's exports of basmati rice to West Asian countries have been left in limbo after the US and Israel attacked Iran. Previously placed export orders are either stuck at Indian ports or at sea, while new orders have halted completely, analysts and market participants said. Prices are expected to fall if hostilities in the region persist, they said. 

 

West Asia is a major destination for Indian basmati rice. In Apr-Jan 2025-26 (Apr-Mar), India exported 5.4 million tonnes of basmati rice, of which 3.6 million tonnes were exported to countries in West Asia, data from the commerce ministry showed. In the region, Saudi Arabia, Iran, Iraq, the United Arab Emirates, Yemen, and Oman are major destinations for Indian basmati rice.  End 

 

Edited by Avishek Dutta

 

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