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Informist, Wednesday, May 27, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of wheat and rice were unchanged, while prices of maize were largely steady in key spot markets across the country, traders said. Though maize prices rose in Indore, Madhya Pradesh, the increase was negligible as demand and supply remained stable, they said. Wheat prices are likely to remain steady in the near term, supported by the government's procurement and rice prices could also remain unchanged amid tepid market activity, they said.

 

The price of WHEAT in Indore was steady at INR 2,600 per 100 kilograms, said Gaurav Kochar, a local trader. Prices of wheat were unchanged amid stable demand, he said. Prices are expected to remain range-bound in the near term amid ample supply and limited demand, said Dinesh Mangal, a local trader from Indore. "Everybody has a large supply of wheat, especially the government and big buyers, who also have plenty of carryover stocks from last year," he said. Demand for the grain is likely to remain largely tepid, as many buyers, especially in rural markets, have already stocked up on wheat, he said. "Rural consumers, who stock up on essentials such as grains and pulses for a few months at least, have already made their purchases, so demand is unlikely to rise in the near term," he said.

 

Amid comfortable supplies and minimal demand, prices are supported by the government's ongoing procurement, Mangal said. As of Tuesday, the government purchased 34.54 million tonnes of wheat, up more than 16% on year. Punjab and Haryana have completed wheat procurement operations, while purchases are still underway in states such as Uttar Pradesh, Madhya Pradesh, and Rajasthan. 

 

Prices of wheat in Kota, Rajasthan, were unchanged at INR 2,340-INR 2,360 per 100 kg, said Ravi Mehta, a local trader. Arrivals were steady at 20,000 bags (1 bag = 50 kg), he said.

The price of wheat in Vashi, Navi Mumbai, was steady at INR 2,700 per 100 kg, said Devendra Vora, a wholesale trader. Though market activity remains largely low, prices were held steady by the government's ongoing procurement, he said.

 

The price of MAIZE in Indore rose marginally by INR 5 per 100 kg from Tuesday to INR 2,185 per 100 kg, Kochar said. "The rise in prices is negligible, demand and supply in the market remain the same as the previous day," he said. Arrivals of the new summer crop are ongoing, though it is likely to decline in the next few weeks, he said. This, along with an anticipated rise in demand from the ethanol sector, is likely to raise prices in the short term, 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 were steady at 800 bags (1 bag = 50 kg), he said. 

 

Prices of RICE varieties were steady in Vashi, Vora said. Prices of the 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 high government stocks. In addition, weak exports amid greater global competition and disruptions in the Strait of Hormuz have dampened overall market sentiment.  End

 

Edited by Avishek Dutta

 

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