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Informist, Monday, May 18, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of grains were steady in key spot markets across the country, traders said. Wheat prices are likely to remain range-bound in the near term, supported by the government's robust procurement of the grain, even as demand remains limited amid ample supply, they said. Maize prices are likely to be weighed down by a rise in arrivals of the new summer crop, while prices of some basmati rice varieties are expected to fall due to sluggish demand, they said.

 

WHEAT prices in Indore, Madhya Pradesh, rose by INR 20 per 100 kg from Friday to INR 2,600 per 100 kg, said Gaurav Kochar, a local trader. Prices were unchanged amid limited demand for the grain, which is not substantial enough to lift prices, he said. Prices are also supported by the government's ongoing procurement, he said. The pace of wheat procurement has picked up across India, as the government is looking to fill up its stocks before the deadline of May 31 across several states, he said. In some other states such as Gujarat, the government has extended the procurement time limit to Jun. 15, he said. Procurement of wheat this year is likely to cross last year's levels, he said. "The government seems to have set its mind to meet the procurement target of 34 million tonnes this year," 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 amid tepid market activity and ample supply, he said. Traders, stockists, and the government have large stocks of the grain, which includes carryover stocks from the previous year, he said. 

 

The prices of MAIZE in Indore were steady at INR 2,080 per 100 kg, Kochar said. Prices were steady amid stable demand for the coarse grain, he said. Prices are likely to fall in the near term as arrivals of the fresh summer crop are likely to increase, he said. However, a steep fall in prices is unlikely amid fears of a fall in acreage in the upcoming kharif season due to forecasts of a below-normal monsoon, he said. "Maize is a very rain-intensive crop. If there is not much water, then farmers might shift to other crops," he said. Farmers have not been encouraged by the recent hike in the minimum support price of maize, he said. Last week, the government increased the minimum support price of maize to INR 2,410 per 100 kg from INR 2,400 per 100 kg.

 

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. Prices of the 1509 variety of basmati rice are also unchanged at INR 8,300-INR 8,500 per 100 kg. Prices of the 1401 and 1509 varieties of rice are expected to fall in the near term amid little to no demand, he said. "There is very less export demand for these varieties right now, especially since there seems to be no conclusion of the war going on in West Asia," he said. Prices of these varieties are expected to fall by INR 500–INR 700 per 100 kg in the short term, he said. Countries in West Asia are the top destinations for Indian basmati rice exports, he said.

 

Prices of the 1121 variety of basmati are likely to remain largely steady as supplies of this variety are limited, Vora said. "Supplies are tight, and so is demand, so prices will remain mostly the same," he said. Sowing of major basmati rice varieties will only take place during the kharif season, and arrivals are only expected to hit markets after three months, he said.  End

 

Edited by Avishek Dutta

 

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