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Informist, Tuesday, Jun. 16, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of maize and rice were steady, while prices of wheat showed mixed trends in key spot markets across the country, traders said. Prices of wheat in Indore, Madhya Pradesh, rose amid a slight rise in need-based demand from millers and traders, they said. The movement in maize prices in the near term is likely to depend on the progress of kharif maize sowing, while rice prices could remain unchanged as the market is awaiting more cues from developments in West Asia.

 

WHEAT prices in Indore rose by INR 10 per 100 kilograms to INR 2,600 per 100 kg, said Gaurav Kochar, a local trader. Prices continued rising for the second consecutive day amid a gap in demand and supply, he said. Need-based demand from millers and traders has risen slightly, which is supporting prices as arrivals remain steady, he said. In the near term, prices are likely to depend on the commencement of the open-market sales scheme and the reserve price the government fixes for wheat, he said.

 

Under the open market sales scheme, the government fixes the prices of rice and wheat and sells the grains to bulk buyers such as states and private millers, through electronic auctions. The government's weekly e-auctions of rice and wheat are meant to cool retail prices nationwide. The open market sales could start either in July or August, Kochar said.

 

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 tepid market activity, he said. "There is slow movement in the market, prices are likely to remain range-bound in the near term," he said.

 

The price of MAIZE in Indore was steady at INR 2,175 per 100 kg, Kochar said. Prices were unchanged amid stable demand, he said. In the near term, the movement of prices is likely to depend on the progress of kharif maize sowing, he said. Farmers are monitoring the progress of the monsoon, as below-normal rainfall in key-producing regions could ultimately impact production, he said. Maize is a highly water-intensive crop, he said. As of Friday, the area under maize had declined to 228,000 hectares from 259,000 hectares a year ago, according to data from the agriculture ministry.

 

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 9,500-INR 9,600 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. Prices have stabilised after a temporary rise in some varieties amid hopes of renewed export demand from countries in West Asia, he said. On Sunday, the US and Iran announced that they had agreed on a framework for a peace deal, which is to be signed on Friday. However, details of the deal are still unclear, which is keeping the market cautious, he said. Countries in West Asia are the top destination for Indian basmati rice exports.  End

 

Edited by Avishek Dutta

 

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