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Informist, Friday, May 29, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of grains were steady in key spot markets across the country, traders said. Wheat prices are expected to remain largely unchanged amid ample supply and no likelihood of a spike in demand in the near term, they said. Maize prices could rise in the short term on expectations of lower kharif acreage, they said. Rice prices could stay steady amid low market activity, they said.

 

WHEAT prices in Kota, Rajasthan, were unchanged at INR 2,340-INR 2,360 per 100 kg, said Ravi Mehta, a local trader. Arrivals fell by 5,000 bags to 15,000 bags (1 bag = 50 kg), he said. Prices are steady as demand and supply are unchanged and equally matched, he said. Prices are expected to remain range-bound in the near term as demand is unlikely to show any significant fluctuations, he said.

 

Prices are also likely to stay range-bound amid ample supply of the grain, Mehta said. According to the third advance estimate for the crop year 2025-26 (Jul-Jun) released by the agriculture ministry Wednesday, wheat output is expected to rise nearly 3% to 120.7 million tonnes. "The rise is marginal, but even if production was the same as last year or even lower, we wouldn't have to worry because we have too much supply," he said. Many large buyers have plenty of carry-over inventories, while the government also holds significant stocks, he said.

 

The price of wheat in Indore, Madhya Pradesh, 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. 

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 continuing procurement, he said. 

 

While worries of below-normal rainfall during the southwest monsoon season have gripped many market players, Vora does not expect a large impact on the wheat and rice markets, he said. "There is no shortage in supply. Even if the monsoon is weak this year, the government will not have to face problems because of its large stocks," he said. The government has been offloading wheat via its public-distribution system, and has been actively looking for more storage for its wheat stocks, he said. "Supply of wheat is overwhelming, so even if El Nino affects the monsoon and then eventually rabi crop, we won't have to worry," he said.

 

Rainfall in the upcoming southwest monsoon season in India is likely to be 90% of the long-period average, which is below normal, the India Meteorological Department said in its second stage forecast of the 2026 monsoon Friday. The likelihood of below normal rainfall is largely attributed to the development of the El Nino weather phenomenon during the monsoon, which is expected to intensify as the season progresses, the department said.

 

The price of MAIZE in Indore was unchanged at INR 2,185 per 100 kg, Kochar said. Prices are steady amid stable demand and supply, he said. Unlike wheat and rice, a decline in acreage and production in the upcoming kharif season due to below-normal rainfall could push maize prices higher in the near term, particularly due to the anticipated rise in demand from the ethanol sector, 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 variety of basmati rice 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 matched, he said. 

 

Similar to wheat, comfortable supplies of rice are likely to keep prices under control even with the forecast of a below-normal monsoon, Vora said. Rice production in 2025–26 is pegged at 15 million tonnes, up more than 3% on year, according to the third advance estimates.  End

 

Edited by Rajeev Pai

 

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