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Informist, Thursday, Apr. 9, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of rice and maize were steady in key spot markets across the country, even as wheat showed mixed trends, traders said. Prices of average quality wheat were steady due to stable demand, while prices of the best quality wheat fell in Rajasthan's Kota due to a correction in prices, they said.

 

Prices of the best quality WHEAT in Kota fell by INR 50-INR 70 per 100 kilograms from Wednesday to INR 2,470-INR 2,660 per 100 kg, said Ravi Mehta, a local trader. Arrivals rose by 20,000 bags to 100,000 bags (1 bag = 50 kg), he said.

 

Prices of average quality wheat were steady amid stable demand, while those of the best quality wheat fell due to a correction, Mehta said. Prices were on an uptrend in the past two days, supported by a robust procurement by the Food Corp. of India in Rajasthan. The central nodal agency is purchasing the grain at the minimum support price of INR 2,585 per 100 kg, which is higher than the prevailing prices in many spot markets. "Buyers were scared that most of the good quality wheat would be sold to FCI because of their attractive prices, so they accepted purchasing wheat at higher rates from farmers to encourage them (farmers) to sell their crop in the market instead," he said. 

 

However, such a tactic can't run for too long, he said. "How much more will the buyer pay? He already has to pay to transport the grain to his warehouse or mill, and he has to cover the costs of storing last year's carryover stocks. So today prices came down," he said. Mehta expects prices to remain volatile in the near term. "There are several factors driving wheat prices, and they are confusing the market. On one hand, there is a fear of more lower-quality arrivals, and on the other, concerns that the government will buy most of the wheat. But at the same time, there is ample availability of the grain everywhere, so it's not like prices will rise steeply anytime soon," he said.

 

Prices of wheat in Indore were steady at INR 2,450 per 100 kg, said Gaurav Kochar, a local trader. Prices of wheat in Vashi in Navi Mumbai, Maharashtra, were also steady at INR 2,600 per 100 kg, said local trader Devendra Vora.

 

MAIZE prices in Indore were steady at INR 1,900 per 100 kg, Kochar said. Arrivals of the new rabi crop have increased, and demand has also risen, matching the pace of supply, he said. Currently, many traders, millers, and stockists are looking to stock up on coarse grain as the prices ruling in most markets are relatively lower, he said.

 

Prices of maize in Davanagere, Karnataka, were unavailable because the market was closed for the byelections, said Shiva Kumar, a local trader. Voting in the byelections to Bagalkot and Davanagere South assembly seats is being held on Thursday.

 

Prices of RICE varieties were steady, Vora said. Prices of 1401 basmati rice were INR 8,500–INR 8,700 per 100 kg, 1121 basmati at INR 9,400–INR 9,500 per 100 kg, and 1509 basmati rice at INR 8,500 per 100 kg, unchanged from the previous day amid stable demand, he said.  End

 

Edited by Saji George Titus

 

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