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Informist, Tuesday, May 19, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of wheat and rice were steady, while those of maize showed mixed trends in key spot markets across the country, traders said. Prices of maize in Indore, Madhya Pradesh, rose amid a slowdown in summer crop arrivals, they said. Wheat prices were unchanged amid stable demand, while rice prices were steady due to tepid market activity.

 

WHEAT prices in Indore were steady at INR 2,600 per 100 kilograms, said Gaurav Kochar, a local trader. Prices are steady amid stable demand for the staple grain, he said. There is some need-based demand from millers and traders, as well as some from exporters, he said. "There is no actual demand for Indian wheat overseas, but exporters are taking advantage of the lower price range and buying some stocks," he said. India's wheat lacks export price parity, as it is priced about INR 200 higher per 100 kg than the average global rate, he said. 

 

India is likely to become a net exporter of wheat in 2026–27 (Jun-May), though its exports are expected to be relatively small compared to the global trade, according to a report by the Foreign Agriculture Service of the US Department of Agriculture. India is likely to export around 2 million tonnes of wheat during the year, the report 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.

 

The prices of MAIZE in Indore rose by INR 70 per 100 kg to INR 2,150 per 100 kg, Kochar said. Prices have risen due to a gap in supply and demand, he said. Arrivals of the new summer crop from Bihar have begun to ease, supporting prices amid rising demand, he said. Prices are expected to rise in the near term as arrivals of the summer crop are likely to decline further, he said.

 

The market expects a decline in maize acreage in the upcoming kharif season, which is also expected to support prices, Kochar said. Farmers are likely to shift from maize to other crops such as soybean and urad, he said. "Soybean and urad do not require as much water as maize," he said. Amid reports of a below-normal rainfall due to the onset of El Nio during the southwest monsoon, farmers are shifting to crops that are less reliant on irrigation, 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 prices of the 1401 and 1121 basmati rice varieties were steady at INR 9,500-INR 9,600 per 100 kg and INR 10,000-INR 10,200 per 100 kg, respectively. Prices of the 1509 variety of basmati rice are also steady at INR 8,300-INR 8,500 per 100 kg. Prices are steady amid low market activity, he said.

 

Prices of most basmati rice varieties are expected to fall in the near term due to sluggish export demand, he said. With the Strait of Hormuz still largely shut due to the ongoing conflict in West Asia, Indian basmati rice exports to the region have largely dwindled, he said. Countries in West Asia are the top destinations for shipments of Indian basmati rice.  End

 

Edited by Saji George Titus

 

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