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Informist, Tuesday, May 5, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of wheat and maize showed mixed trends, while prices of rice were unchanged in key spot markets across the country, traders said. Wheat prices Kota, Rajasthan, fell on low market sentiment, they said. Maize prices in Davanagere, Karnataka, rose due to higher demand from the ethanol sector, while prices of rice were steady amid tepid market activity, they said.

 

WHEAT prices in Kota fell by INR 25 per 100 kilograms to INR 2,350-INR 2,400 per 100 kg, said Ravi Mehta, a local trader. Arrivals fell by 65,000 bags to 35,000 bags (1 bag = 50 kg), he said. Prices fell for a second consecutive day, weighed down by low market sentiment, he said. "Last week, ITC made bulk purchases in the market and sent prices steeply higher, so this week there is a correction in the market," he said. Prices had risen by INR 100–INR 150 per 100 kg in the second half of last week as ITC, one of the largest private sector buyers of wheat, made large purchases, he said. 

 

Demand has been largely sluggish as most millers, stockists, and traders have ample supply of the grain, he said. Most of the arrivals currently are of low quality, which is weighing on sentiment, he said. The bulk of good-quality crops is being procured by the government, leaving little of the same variety for the markets, he said.

 

Prices of wheat in Indore, Madhya Pradesh, were steady at INR 2,600 per 100 kg, said Gaurav Kochar, a local trader. Demand for wheat is on par with its supply, keeping prices largely unchanged, he said. The government's ongoing procurement is also supporting prices, he 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. Tepid market activity is keeping prices unchanged in the market, he said. Most market participants are away for the wedding season, while others have returned to their hometowns for summer, he said. "Everybody knows business is low during summer, so many don't come to the market," he said.

 

MAIZE prices in Indore were steady at INR 2,100 per 100 kg, Kochar said. Prices have stabilised after a steep rise yesterday. The government released a draft proposing higher ethanol blending last week, which led to spot markets opening higher than expected on Monday, he said. However, an uptrend in prices is expected as many expect the proposal to be approved, he said.

 

Prices of maize in Davanagere rose by INR 20 per 100 kg to INR 1,750-INR 1,920 per 100 kg, said Shiva Kumar, a local trader. Arrivals halved to 1,000 bags (1 bag = 50 kg), he said. Prices rose due to higher demand from the ethanol sector, he said.

 

The Ministry of Road Transport and Highways issued a notification last week, proposing amendments to the Central Motor Vehicles Rules to include higher ethanol blends such as E85 and E100. The draft amendments aim to formally recognise these fuels within the regulatory framework to facilitate their adoption. While E85 is 85% ethanol blended with petrol, E100 is pure ethanol used in flex-fuel vehicles. 

 

Prices of RICE varieties were 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. Prices were unchanged amid tepid market activity, he said. "Prices had jumped last month when there was a flurry of purchases after the ceasefire in West Asia had been announced," he said. Many exporters and stockists had stocked up on two to three months worth of basmati rice in hopes that export conditions in West Asia would ease, he said. However, there has been no progress in peace talks between the US and Iran since, keeping the market largely steady, he said. Countries in West Asia are the top destinations for Indian basmati rice exports.  End

 

Edited by Avishek Dutta

 

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