More Stories

Informist, Friday, Jun. 19, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of wheat and maize were steady, while prices of some varieties of basmati rice rose in key spot markets across the country, traders said. Prices of the 1409 variety of basmati rose as the delayed monsoon and forecasts of below-normal rainfall during the season are raising concerns about production this year, they said. Wheat prices are expected to remain largely steady in the near term amid limited demand and ample supply, while maize prices are likely to depend on the progress of kharif sowing, they said.

 

WHEAT prices in Indore, Madhya Pradesh, were steady at INR 2,640 per 100 kilograms, said Gaurav Kochar, a local trader. Prices have stabilised after the previous day's climb, he said. On Thursday, prices were driven higher by speculation that the Food Corp. of India is likely to set the base price for open-market sales of wheat at INR 2,600 per 100 kg. However, with no official notification released for this, market sentiment has cooled off, stabilising prices, he said.

 

In the near term, prices are likely to depend solely on demand and supply cues in spot markets, Kochar said. As the government has wrapped up procurement operations in all locations in Madhya Pradesh, prices are no longer supported by the government's purchases, he said.

 

As of Monday, Food Corp. of India and state agencies procured 35.7 million tonnes of wheat, up over 19% on year and higher than the revised target of 34.6 million tonnes, according to FCI data. Wheat purchases may rise further as procurement continues in Rajasthan. Agencies in other major wheat-growing states have stopped procurement operations.

 

The price of wheat in Vashi, 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 were unchanged as demand for maize was on par with its supply, he said. The market is monitoring the progress of the monsoon for more cues, as delay in rainfall is expected to impact sowing and ultimately production. However, the impact of delayed sowing is only likely to influence prices in the medium term, 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 mixed in Vashi, Vora said. Prices of the 1121 and 1509 varieties of basmati rice were steady at 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 9,600–INR 9,700 per 100 kg Friday, he said. Prices of the 1409 basmati variety rose amid rising concerns about delay in the monsoon onset across the country, he said. Basmati rice is a highly water-intensive crop, and forecasts of the late arrival of monsoon, along with below-normal rainfall during the season, are likely to affect production this year, he said. The monsoon is yet to arrive in many top producing rice states in the country, which are mostly in north India, he said.  End

 

Edited by Avishek Dutta

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. This follows the acquisition of Cogencis Information Services Ltd. by NSE Data & Analytics Ltd., a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt. Ltd.

 

Informist Media Tel +91 (22) 6985-4000

Send comments to feedback@informistmedia.com

 

© Informist Media Pvt. Ltd. 2026. All rights reserved.