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Informist, Friday, Jun. 12, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of grains were unchanged in key spot markets across the country, traders said. Wheat prices are expected to remain range-bound to weak in the near term amid expectations of muted demand and ample supplies, they said. Maize prices are likely to rise in the near term on hopes of higher demand from the ethanol sector, while rice prices could remain steady on prospects of low export demand, they said.

 

The price of WHEAT in Indore, Madhya Pradesh, was steady at INR 2,570 per 100 kilograms, said Gaurav Kochar, a local trader. "Nothing has changed from the previous day, both demand and supply are the same," he said. Demand remains limited to need-based purchases, while arrivals are slightly elevated, he said. Arrivals of wheat have increased as many farmers are bringing more of their rabi crop to the market, looking for immediate cash payments to cover their expenses for kharif sowing, he said. 

 

Once kharif sowing begins in Madhya Pradesh, farmers are likely to be too busy in their fields to bring the wheat crop to the markets, Kochar said. However, lower arrivals are unlikely to support prices as demand is expected to stay muted, he said. With ample supplies of wheat with stockists, traders, large buyers, and the government, demand is unlikely to see a spike in the near term, he said.

 

As of Jun. 1, wheat stocks with the Food Corp. of India rose to 53.4 million tonnes from 42.8 million tonnes a month ago, a rise of nearly 25%. They were also up by a hefty 45% from 36.9 million tonnes a year ago. The current wheat stocks are significantly above the buffer norms for the current quarter. According to the norms, minimum wheat stocks for Apr-Jun should be nearly 7.5 million tonnes.

 

Wheat prices in Kota, Rajasthan, were steady at INR 2,275-INR 2,300 per 100 kg, Ravi Mehta, a local trader, said. Arrivals halved to 15,000 bags (1 bag = 50 kg), he said. Prices are unchanged amid tepid market activity, he said. Market sentiment is low amid prospects of comfortable supplies of wheat in the medium term, which is likely to keep prices range-bound to weak, he said.

 

The price of wheat at Vashi in Navi Mumbai, Maharashtra, was steady at INR 2,700 per 100 kg, said Devendra Vora, a wholesale trader.

 

The price of MAIZE in Indore was steady at INR 2,175 per 100 kg, Kochar said. Prices are unchanged amid stable demand, he said. With expectations of higher demand from the ethanol sector in the near term, along with expectations of lower acreage this kharif season because of forecasts of below-normal rainfall, prices are expected to rise, 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 9,400-INR 9,500 per 100 kg and INR 8,200-INR 8,300 per 100 kg, respectively, he said. Prices of the 1121 variety of basmati rice were also steady at INR 10,000–INR 10,200 per 100 kg, he said. The market is currently monitoring the developments in West Asia, as countries in the region are top destinations for Indian basmati rice exports. Though there have been mixed signals of some progress in the peace talks between the US and Iran, the market expects export demand for basmati to remain low until the Strait of Hormuz is fully reopened and remains open for the long term, he said.  End

 

Edited by Rajeev Pai

 

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