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Informist, Thursday, Apr. 30, 2026

By Shreya Shetty

MUMBAI – Prices of wheat showed mixed trends, while prices of maize and rice were steady in key spot markets across the country, traders said. Wheat prices rose in Kota, Rajasthan, due to a rise in demand from ITC, one of the largest buyers in the market, they said. Prices of maize were unchanged amid some demand for the coarse grain, while rice prices were steady due to low market activity, they said.

WHEAT prices in Kota rose by INR 75-INR 100 per 100 kilograms from Wednesday to INR 2,400-INR 2,500 per 100 kg, said Ravi Mehta, a local trader. Arrivals fell by 35,000 bags to 50,000 bags ( 1 bag = 50 kg), he said. Prices rose due to a rise in demand from ITC Ltd., which is among the largest buyers of wheat in the country, he said. "Today ITC made huge purchases, so that has sent prices upwards," he said. Large players such as ITC typically have a major influence on prices, he said. Prices were also supported by a slowdown in arrivals, he said. 

Prices of wheat in Indore, Madhya Pradesh, were steady at INR 2,610 per 100 kg, said Gaurav Kochar, a local trader. Prices are unchanged as demand for the staple grain was on a par with its supply, he said. Prices are likely to rise once the government's pace of purchases picks up, Kochar said. Procurement was off to a slow start this year--and is yet to match last year's levels--as harvest of the rabi crop was delayed due to the unseasonal rainfall during the second half of March and first half of April, he said. A shortage in gunny bags also put off government purchases further. 

As of Tuesday, wheat procurement in Madhya Pradesh was 1.66 million tonnes, down 73% on year, data from the government showed. Unlike other states such as Rajasthan, most of the grain being procured by the government in Madhya Pradesh is of fair average quality, abating fears that the government is stocking up on lower quality wheat, according to IGrain India, an agri-commodity research centre. Low procurement remains a key concern in Madhya Pradesh, which is a key producing state, as procurement across the country has already entered its mid-phase, and is likely to peak in the next 15 days, it said.

Prices of wheat in Vashi in Navi Mumbai, Maharashtra, were steady at INR 2,700 per 100 kg, said Devendra Vora, a wholesale trader. Prices were unchanged due to low market activity, as several participants were away due to the hot weather, he said. Amid little to no trading activity, the government's ongoing procurement is supporting prices, he said.

The prices of MAIZE in Indore were steady at INR 2,075 per 100 kg, Kochar said. Prices were steady amid some demand for the coarse grain, he said. A rise in temperatures in the region was also forcing many participants to stay away from the markets, he said. Prices are expected to rise in the near term due to a rise in demand from the ethanol sector amid the government's push for higher ethanol blending, he said.

Prices of maize in Davanagere, Karnataka, were steady at INR 1,750-INR 1,900 per 100 kg, said Shiva Kumar, a local trader. Arrivals were also steady at 2,000 bags (1 bag = 50 kg), he said. 

Prices of RICE varieties remained steady in Vashi, Vora said. Prices of 1401 basmati rice and 1121 basmati rice were unchanged at INR 9,700-INR 9,800 per 100 kg and INR 10,000-INR 10,200 per 100 kg, respectively, he said. Prices were unchanged amid tepid market activity, he said. The market is monitoring the ongoing developments in West Asia, as countries in that region are the top destinations for Indian basmati rice exports. Exporters and buyers are both incurring losses currently, as freight prices of shipments have soared following the closure of the Strait of Hormuz, said Ranjit Singh Jossan, vice president, Basmati Rice Millers and Exporters Association Punjab.  End

Edited by Akul Nishant Akhoury

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