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Informist, Friday, May 22, 2026

By Shreya Shetty

MUMBAI – Prices of wheat and rice were steady, and those of maize showed mixed trends in key spot markets, traders said. Maize prices rose in Indore, Madhya Pradesh, amid a rise in demand for feed and from the ethanol sector, they said. Prices of wheat remained unchanged amid stable demand, and those of rice were steady due to low market activity, they said.

WHEAT prices in Indore were steady at INR 2,600 per 100 kilograms, said Gaurav Kochar, a local trader. Prices were unchanged amid stable demand for the grain, he said. "There are some need-based purchases by millers, traders, and some exporters who are hoping that demand for Indian wheat will rise in the future," he said. Prices are expected to remain largely steady in the near term amid ample availability of wheat, which includes large carry-over stocks, he said.

With comfortable supplies, market participants do not see concerns about wheat availability rising for the next few months. However, the upcoming El Nino, which is forecast to last till the early months of 2027, could pose a risk to the wheat crop in the next rabi season, they said.

Wheat is seen as one of the more exposed grain markets under the projected El Nino, with risks heightened by crop calendar overlap across India, Pakistan, Australia, Mainland China and Argentina, according to BMI, a Fitch Solutions company. "In India and Pakistan, which together account for around 17% of global wheat production, planting and early crop development typically begin around October, when El Nio risks are skewed towards stronger outcomes," BMI said. This raises downside risks to yields should rainfall undershoot seasonal norms during development stages, it 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.

Prices of MAIZE in Indore rose by INR 50 per kg from Thursday to INR 2,200 per 100 kg, Kochar said. Prices rose amid higher demand for maize for feed and from the ethanol sector, he said. Maize is used as a main component in livestock and poultry feed, he said. Maize is also used as feed stock for producing ethanol. With the government's recent push for producing higher ethanol-blended fuel, demand for maize from the ethanol sector has increased, 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 were steady at 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 were unchanged amid low market activity, with both demand and supply of the grain low and equally matched, he said.

Kedia Advisory expects paddy prices to decline further over the next three months amid abundant supply due to higher domestic production and elevated government stocks. In addition, weak exports amid increased global competition and disruptions in the Strait of Hormuz have dampened overall market sentiment. In April, paddy prices fell over 6% amid disruptions in the Strait of Hormuz, which delayed nearly 200,000 tonnes of basmati rice shipments, it said.  End

Edited by Akul Nishant Akhoury

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