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Informist, Monday, May 11, 2026

By Shreya Shetty

MUMBAI – Prices of wheat exhibited mixed trends, while those of maize rose and those of rice were unchanged in key spot markets across the country on Monday, traders said. Wheat prices in Indore, Madhya Pradesh, fell amid subdued buying activity in the market, they said. Maize prices rose due to a surge in demand from the ethanol sector, while rice prices were steady due to tepid market activity, they said.

WHEAT prices in Indore fell INR 20 per 100 kilograms from Friday to INR 2,580 per 100 kg, said Gaurav Kochar, a local trader. Prices fell due to the absence of many buyers in the market, he said. "Many traders and millers have not come to the market because of summer, and some are away for weddings," he said. The government's procurement of the staple grain has picked up pace in the last few days, and is likely to cross last year's levels, he said. In the rabi marketing year 2025-26 (Apr-Mar), the government procured 30.04 million tonnes of wheat.

The government's ongoing wheat procurement in the 2026-27 rabi marketing season has nearly caught up with last year's levels amid strong purchases in Punjab and Haryana. As of Thursday, government agencies procured 27.67 million tonnes of wheat, down 3% on year, Food Corp. of India data showed. The gap with last year's procurement on the corresponding date has sharply narrowed from 13% in late April. 

Though the government has achieved 80% of its procurement target as of Thursday, over 78% or 22 million tonnes of wheat were purchased under relaxed quality specifications, indicating widespread crop damage caused by unseasonal rains and hailstorms in March. Under the relaxed quality norms, farmers can sell wheat with up to 15% shrivelled and broken grains, compared with the earlier limit of 6%. The permissible limit for loss of lustre has also been relaxed up to 50%.

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. Market activity has been largely mellow so far in May, and is expected to continue being so till June, keeping prices steady, he said.

The price of MAIZE in Indore rose INR 25 per 100 kg from Friday to INR 2,125 per 100 kg, Kochar said. "There is not any major reason for the rise in prices, it's just an up-and-down of demand and arrivals," he said. A slight rise in arrivals has pushed prices up, he said. The harvest of summer maize in Bihar has begun, and its arrivals are likely to commence in the near term. Prices could come under pressure, falling INR 100 per 100 kg in the short term, he said.

Prices of maize in Davanagere, Karnataka, rose INR 30 per 100 kg form the previous week to INR 1,800-INR 2,050 per 100 kg, said Shiva Kumar, a local trader. Arrivals rose by 500 bags to 1,500 bags (1 bag = 50 kg), he said. A rise in demand from the ethanol sector amid a push for higher ethanol blending is supporting prices, he said. 

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 unchanged amid tepid market activity, with most participants away, he said. Prices are also steady due to low demand in both the domestic and export markets, he said. "Everybody has already bought basmati rice in bulk a month ago on reports that a ceasefire in West Asia was announced and there would be peace talks, but nothing has happened since, so prices are unchanged," he said. Countries in West Asia are top destinations for Indian basmati rice exports.  End

Edited by Tanima Banerjee

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