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Informist, Wednesday, May 20, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of wheat and maize were steady, while those of rice were mixed in key spot markets across the country on Wednesday, traders said. Prices of some varieties of basmati rice in Vashi, Navi Mumbai, Maharashtra, declined due to a fall in domestic and export demand, they said.

 

WHEAT prices in Indore, Madhya Pradesh, were steady at INR 2,600 per 100 kilograms, said Gaurav Kochar, a local trader. Prices were unchanged amid a lack of cues, he said. While there is some need-based demand from traders and millers, there is limited demand from exporters looking to stock up on the grain, he said. However, this demand is not substantial enough to raise prices, he said. "There is hope among some exporters that at some point demand for Indian wheat will increase overseas, so some of them are purchasing small amounts here and there," Kochar said.

The price of wheat in Vashi was steady at INR 2,700 per 100 kg, said Devendra Vora, a wholesale trader. Amid low market activity, prices are currently supported by the government's ongoing wheat procurement, he said.

 

The prices of MAIZE in Indore were steady at INR 2,150 per 100 kg, Kochar said. Prices of maize are expected to rise in the near term as kharif acreage of the coarse grain is likely to take a hit due to forecasts of below-normal rainfall during the southwest monsoon season, he said. Prices could also be supported as demand from the ethanol sector is expected to rise amid a push for higher ethanol blending in the country, he said.

 

Prices of maize at Davanagere in 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. Prices of 1409 variety of basmati rice fell INR 400 per 100 kg to INR 9,100-INR 9,200 per 100 kg, while those of 1509 variety declined INR 100-INR 200 per 100 kg to INR 8,200-INR 8,300 per 100 kg, he said. Prices of 1121 basmati rice variety were steady at INR 10,000-INR 10,200 per 100 kg, he said.

 

Prices of the 1409 and 1509 basmati rice varieties fell due to muted demand, Vora said. "There is neither demand in the domestic market nor in the international market," he said. Demand for basmati rice in the domestic market has been affected by gas supply shortages, with many large buyers, such as hotels, restaurants, and caterers, cutting back on purchases, he said. Meanwhile, the ongoing disruption of trade via the Strait of Hormuz has led to a decline in exports to countries in West Asia, which are the top destinations for Indian basmati, he said. "Only the prices of 1121 basmati are unchanged because we have a very limited supply of that variety. For other varieties, there is ample supply," he said.  End

 

Edited by Saji George Titus

 

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