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Informist, Monday, Apr. 27, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of wheat and maize showed mixed trend, while those of rice were unchanged in key spot markets across the country Monday, traders said. Wheat prices fell in Kota, Rajasthan, due to a slowdown in demand, they said. Prices of maize rose in Davanagere in Karnataka due to a rise in demand amid a push for higher ethanol blending. Rice prices are steady as the market is awaiting more cues from the ongoing developments in West Asia, they said. 

 

WHEAT prices in Kota fell by INR 20-INR 30 per 100 kilograms from Friday to INR 2,300-INR 2,425 per 100 kg, said Ravi Mehta, a local trader. Arrivals were steady at 70,000 bags (1 bag = 50 kg), he said. Prices are under pressure due to a fall in demand for processed wheat amid ample availability of the staple grain, he said. "There is still some demand from millers, but where will they go to sell? Nobody wants to buy wheat right now, and prices are also not likely to rise anytime soon because arrivals of the new rabi crop are also there," he said.

 

Typically, demand from stockists rises during this time of the year, but many large buyers already have plenty of carry-over stocks from the previous year, Mehta said. "Market sentiment is down currently," he said. With only need-based purchasing expected in the next few weeks, prices could remain range-bound to weak in the near term, he said.

 

Prices of wheat in Indore, Madhya Pradesh, were steady at INR 2,570 per 100 kg, Gaurav Kochar, a local trader, said. Prices are unchanged amid some demand for the grain and the government's ongoing procurement, he said. Though the government last week increased the procurement target for wheat in Madhya Pradesh to 10 million tonnes from 7.8 million tonnes, it has done little to impact spot market prices, he said.

 

The price of wheat in Vashi in Navi Mumbai, Maharashtra, was also steady at INR 2,600 per 100 kg, said Devendra Vora, a local trader.

 

The price of MAIZE in Indore was steady at INR 1,965 per 100 kg, Kochar said. Prices are likely to rise in the near term as the market anticipates a fall in acreage in the upcoming kharif season due to the developments in West Asia, which have kept the Strait of Hormuz largely shut, impacting the availability of fertilisers in India. "Maize crop needs more fertilisers than other crops, so this will be the reason for a fall in acreage," he said.

 

Prices of maize in Davanagere rose by INR 50 per 100 kg from Friday to INR 1,750-INR 1,900 per 100 kg, said Shiva Kumar, a local trader. Arrivals doubled to 2,000 bags (1 bag = 50 kg), he said. Demand for the grain rose amid the government's push for ethanol blending over 20%, he said.

 

Prices of RICE varieties remained steady in Vashi, Vora said. Prices of 1401 basmati rice were unchanged at INR 9,700-INR 9,800 per 100 kg, and of 1121 basmati rice at INR 10,000-INR 10,200 per 100 kg, he said. The market is waiting for more cues from the ongoing developments in West Asia, he said. Though the ceasefire between the US and Iran was extended, no peace talks have taken place yet, keeping the Strait of Hormuz shut. Countries in West Asia are the top destinations for Indian basmati rice. The value of India's rice exports in March fell over 15% on year to $997.5 million, while in 2025-26 (Apr-Mar), it was down nearly 8% on year at $11.54 billion, according to data from the commerce ministry.  End

 

Edited by Vandana Hingorani

 

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