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Informist, Thursday, Jun. 18, 2026

By Shreya Shetty

MUMBAI – Prices of wheat showed mixed trends while those of maize and rice were unchanged in key spot markets across the country, traders said. Wheat prices in Indore, Madhya Pradesh, rose amid improved market sentiment on speculations that Food Corp. of India could fix prices for open-market sales at INR 2,600 per 100 kilograms, they said. Maize prices in the near term are likely to depend on the progress of kharif sowing, while that of rice could remain steady till demand from West Asia revives, they said.

WHEAT prices in Indore rose by INR 40 per 100 kg to INR 2,640 per 100 kg Thursday, said Gaurav Kochar, a local trader. Prices have risen amid speculation that the Food Corp. of India is likely to set prices for the open-mark sales of wheat, he said. According to market talk, the FCI might set wheat prices at INR 2,600 per 100 kg, he said. "FCI said their base price for the stock sale will be INR 2,600 per 100 kg, it won't be below that," he said. While there is no official notification confirming these speculations, prices have risen due to improved market sentiment, 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 recent talks about FCI's base price for wheat are signalling that the open-market sales could begin soon, Kochar said.

Prices of wheat in Kota, Rajasthan, were steady at INR 2,325-INR 2,351, said Ravi Mehta, a local trader. Arrivals were steady at 15,000 bags (1 bag = 50 kg), he said. Prices are unchanged as demand and supply of wheat remained the same as the previous day, he 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. Demand for wheat is largely need-based, while arrivals are steady, keeping prices unchanged, he said.

MAIZE prices were steady in Indore at INR 2,175 per 100 kg, Kochar said. Prices are steady amid stable demand for maize, he said. Sowing of maize in Madhya Pradesh is yet to begin in full swing as monsoon has not hit the state yet, he said. In the near term, prices are likely to take cues from the progress of monsoon and subsequently that of sowing, he said. A further delay in monsoon could impact sowing, leading to lower acreage and overall production, which could support prices, 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 9,500-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. The market is monitoring the developments in West Asia. The agreement to stop military hostilities between the US and Iran and to reopen the Strait of Hormuz could revive demand for Indian basmati rice from countries in West Asia, experts said. However, they warned that an immediate return to pre-war conditions is unlikely as countries there are still recovering from war, and are unlikely to purchase Indian basmati rice in bulk from the get-go.  End

Edited by Akul Nishant Akhoury

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