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Informist, Thursday, May 21, 2026

By Shreya Shetty

MUMBAI – Prices of grains were steady in key spot markets across the country, traders said. Maize prices are expected to rise in the near term due to a rise in demand from the ethanol sector, they said. Wheat prices are likely to remain largely unchanged amid ample availability and the government's ongoing procurement, while rice prices are also likely to stay steady amid low market activity, they said.

WHEAT prices in Indore, Madhya Pradesh, were steady at INR 2,600 per 100 kilograms, said Gaurav Kochar, a local trader. Prices are steady as demand for wheat is on a par with its supply, he said. "There is not much buying or selling happening right now, so prices are the same," he said. The ample availability of wheat stocks with traders, stockists, and the government is weighing on sentiment, keeping prices largely stationary, said Dinesh Mangal, another trader from Indore. "Everybody has large stocks of wheat which include carry-over stocks, so there is no positive outlook in the market right now," he said.

The Madhya Pradesh government has extended the wheat procurement deadline to May 28 from May 23 for farmers who had booked their slots, the state's chief minister Mohan Yadav said in a media briefing on Monday. Yadav said the extension was because farmers were facing difficulties and long queues at the procurement centre, and were unable to sell their crop to the government despite booking slots. "The market was expecting the state to extend procurement, so the announcement has not affected prices," 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 are unchanged amid stable demand for the coarse grain, he said. Prices are likely to rise in the near term due to expectations of a rise in demand from the ethanol sector, he said. 

The government announced a new Indian standard for higher ethanol-petrol blends, covering E22, E25, E27, and E30 fuel, the Bureau of Indian Standards said in a notification on Monday. The notification, which came into effect on May. 15, introduces a new technical specification framework for higher ethanol fuel blends beyond the current E20.

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, Vora said. Prices of 1409 and 1509 varieties of basmati rice were steady at INR 9,100-INR 9,200 per 100 kg and INR 8,200-INR 8,300 per 100 kg, respectively, he said. Prices of 1121 basmati rice variety were also steady at INR 10,000-INR 10,200 per 100 kg, he said.

Prices of some basmati rice varieties have stabilised after a steep fall on Wednesday, Vora said. Prices had fallen amid a significant slowdown in both domestic and export demand, he said. Elevated crude oil prices have driven up shipping expenses, while the Strait of Hormuz still remains largely shut. This is weighing on exports to countries in West Asia, which are the top destinations of Indian basmati rice.

Paddy prices have declined over 6% in the past month amid export disruptions caused by the West Asia conflict, which delayed nearly 200,000 tonnes of basmati rice shipments, Kedia Advisory said in a report on Thursday. India's rice export value also fell 6% in April due to rising freight and insurance costs of 25–30%, the report said.  End

Edited by Akul Nishant Akhoury

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