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Informist, Thursday, May 7, 2026

 

By Pallavi Singhal

 

NEW DELHI – Wheat prices were steady in key markets such as Kota, Indore, and Vashi on Thursday amid balanced demand and supply, traders said. Higher arrivals and poor-quality new crop arrivals capped gains in Rajasthan, while maize prices in Davanagere, Karnataka, rose on stronger demand from the ethanol sector following the government's push for higher ethanol blending. Rice prices were largely unchanged due to subdued market activity.

 

Prices of WHEAT in Kota, Rajasthan, were steady at INR 2,350-INR 2,375 per 100 kg, said Ravi Mehta, a local trader. Arrivals rose by 50,000 bags to 150,000 bags (1 bag 50 kg), he said. Prices are unchanged as demand is on par with supply. Millers are buying only as much as they need to process on a day-to-day basis, he said. "It's only need-based demand, they (millers) need to keep their mills functional," he said.

 

Most arrivals of the rabi crop are still low in quality, which is hurting market sentiment, Mehta said. "Low quality wheat can be purchased by millers to process into flour but that's it. No one else is interested in buying it (low quality wheat)," he said.

 

Prices of wheat in Indore, Madhya Pradesh, were steady at INR 2,600 per 100 kg, said Gaurav Kochar, a local trader. Prices are steady as demand is stable, he said. "There has been no special demand in the market, so rates are unchanged. Everyday prices can't go up and down," he said.

 

The government's ongoing procurement of wheat is yet to match last year's levels, Kochar said. However, once the procurement period ends, the government's overall purchases are expected to be higher than last year, he said. "Pan-India procurement will cross last year's levels because we expect the pace to pick up soon," he said.

 

The price of wheat in Vashi in Navi Mumbai, Maharashtra, was steady at INR 2,700 per 100 kg, said Devendra Vora, a wholesale trader. Prices are unchanged due to low market activity, as many buyers and sellers have shut shop for most of May, he said. "Some market participants don't work amid the extremely hot weather, while others are visiting their hometown or busy with the wedding season," he said.

 

The price of MAIZE in Indore was steady at INR 2,100 per 100 kg, Kochar said. Demand for the coarse grain is on par with supply, keeping prices unchanged, he said. Prices of maize in Davanagere, Karnataka, rose by INR 50-INR 100 per 100 kg from Wednesday to INR 1,800- INR 2,020 per 100 kg, said Shiva Kumar, a local trader. Arrivals were unchanged at 1,000 bags (1 bag = 50 kg), he said.

 

Prices have risen due to a rise in demand from the ethanol sector amid the government's push for higher ethanol blending last week. 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. 

 

Prices of RICE varieties were steady in Vashi, Vora said. The price of 1401 basmati rice was steady at INR 9,500-INR 9,600 per 100 kg, while that of the 1121 variety was also unchanged at INR 10,000-INR 10,200 per 100 kg. Prices are steady due to low market activity, he said. Demand and supply of the grain are expected to remain low and equally matched, keeping prices unchanged in the near term, he said.  End

 

(With inputs from Shreya Shetty)

 

Edited by Avishek Dutta

 

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