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Informist, Friday, May 15, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of grains were steady in key spot markets across the country amid stable demand, traders said. Wheat prices were unchanged on Friday but are likely to fall in the near term amid comfortable supplies, they said. Maize and prices were also steady in key spot markets, they said.

 

WHEAT prices in Indore in Madhya Pradesh were steady at INR 2,580 per 100 kilograms, said Gaurav Kochar, a local trader. Prices were unchanged amid stable demand, he said. Many traders and large buyers hold ample stocks, which is preventing any sharp rise in demand, said Dinesh Mangal, a trader from Indore. "Every buyer, whether small or big, has plenty of carry-over stocks from last year, and they also have ample supply this year," he said. The government also has surplus stocks, which are expected to ensure its availability in the medium term, he said. "I do not see any uptrend in prices in the coming months. In fact, prices could fall by INR 100 per 100 kg in the near term due to a huge supply of wheat," he said.

 

Wheat stocks with the Food Corp. of India as of May 1 jumped more than 96% from the previous month to 42.8 million tonnes, according to the Department of Food and Public Distribution. Stocks rose 20% from 35.7 million tonnes in the same month last year, the data showed.

 

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 expected to remain unchanged till June, when a rise in demand from millers and traders is likely to support prices marginally, he said.

 

The prices of MAIZE in Indore were steady at INR 2,080 per 100 kg, Kochar said. Arrivals of the new summer crop from Bihar have begun, and prices could fall in the near term as supply of the fresh crop increases, he said. Bihar is the fourth-largest maize-producing state in the country, and the summer crop accounts for nearly 28% of the total maize production in the state, he said. Arrivals of the new crop are of good quality, easing fears of crop damage due to pre-monsoon rainfall in parts of the state in April, he said. Prices are likely to fall further as arrivals are expected to rise in the next few days, he said. However, a steep fall is unlikely as the market expects lower maize acreage in the upcoming kharif season due to likely below-normal rainfall during the southwest monsoon, he said.

 

Prices of maize in Davanagere, Karnataka, were steady at INR 1,800-INR 2,050 per 100 kg, said Shiva Kumar, a local trader. Arrivals fell by 700 bags to 800 bags (1 bag = 50 kg), he said. 

 

Prices of RICE varieties were steady in Vashi amid tepid market activity, Vora said. The price of 1401 basmati rice was steady at INR 9,500-INR 9,600 per 100 kg, and that of the 1121 variety was unchanged at INR 10,000-INR 10,200 per 100 kg. The market is monitoring ongoing developments in West Asia, as the reopening of the Strait of Hormuz is expected to be the only way to ease worries about export demand for Indian basmati rice, he said. Countries in West Asia are the top destinations for India's basmati rice exports.  End

 

Edited by Saji George Titus

 

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