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Informist, Monday, Jun. 15, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of wheat and rice were mixed, while prices of maize were unchanged in key spot markets across the country, traders said. Prices of some varieties of basmati rice in the Vashi market in Navi Mumbai rose due to hopes of a rise in export demand from West Asia following the peace deal between the US and Iran. Wheat prices in Indore, Madhya Pradesh, rose due to a rise in need-based demand, they said.

 

WHEAT prices in Indore rose by INR 20 per 100 kilograms to INR 2,590 per 100 kg Monday, said Gaurav Kochar, a local trader. "Prices rose due to a gap in demand and supply," he said. Prices are supported by a slight rise in need-based demand from millers and traders, he said. However, the rise in prices is unlikely to be sustained amid ample supply of wheat, he said. "This is a temporary rise, there is plenty of wheat to prevent a further rise in prices," he said.

 

Wheat prices in Kota, Rajasthan, were unavailable as the market was shut for Somvati Amavasya, said Ravi Mehta, a local trader.

 

The price of wheat at Vashi in Navi Mumbai was steady at INR 2,700 per 100 kg, said Devendra Vora, a wholesale trader. Prices were unchanged amid low market activity, he said. 

 

The price of MAIZE in Indore was steady at INR 2,175 per 100 kg, Kochar said. Prices were unchanged as demand for maize was on par with its supply, he said. The market is monitoring the progress of the monsoon for further cues, he said. The progress of the monsoon has slowed down, and its onset over most parts of the country is likely to be delayed. The likelihood of a delayed onset, along with forecasts of deficient rainfall during the season, is likely to prompt some famers to shift from maize to other low-risk crops. Maize is a highly water-intensive crop, 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 1121 and 1509 varieties of basmati rice were steady at INR INR 10,000–INR 10,200 per 100 kg and INR 8,200-INR 8,300 per 100 kg, respectively, he said. Prices of the 1409 variety of basmati rice rose by INR 100 per 100 kg to INR 9,500-INR 9,600 per 100 kg Monday, he said.

 

Prices of the 1409 basmati variety rose amid hopes of a rise in demand from countries in West Asia in the near term, Vora said. On Sunday, the US and Iran arrived at a peace agreement, ending a war that began on Feb. 28, killed thousands in West Asia, and took a toll on the global economy. US President Donald Trump Monday said a peace deal had been reached between the US and Iran and that the Strait of Hormuz, a key waterway that carries a third of global oil, would be reopened completely.

 

"Export demand for Indian basmati rice had significantly dropped because it had become very expensive to ship rice to West Asia, not only because of high oil prices, but also because ships had to pay a toll to cross the Strait of Hormuz. Now, with the peace deal, we could go back to pre-war conditions, which are supporting prices," Vora said. Countries in West Asia are the top destinations of Indian basmati rice exports.  End

 

Edited by Avishek Dutta

 

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