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Informist, Monday, Jun. 22, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of grains were steady in key spot markets across the country, traders said. Wheat prices are likely to remain steady till August, after which festival-driven demand could support prices, they said. Maize prices are expected to rise in the medium term if the kharif crop is compromised due to further delay in the monsoon and below-normal rainfall, they said. Basmati rice prices could rise in the near term due to hopes of a revival of demand from West Asia, they said.

 

Prices of WHEAT in Indore, Madhya Pradesh, were steady at INR 2,640 per 100 kilograms, said Gaurav Kochar, a local trader. Prices were steady due to limited demand amid steady supply, he said. Arrivals of the rabi crop in the market are steady as the government's procurement has been wrapped up in Madhya Pradesh, he said. Demand remains largely muted, with millers and traders only making need-based purchases, he said.

 

Prices are expected to remain largely range-bound for the rest of June and July, Kochar said. In August, prices could be supported by a seasonal rise in demand, he said. The rise in demand is primarily driven by festivals which take place back-to-back from August, he said. However, a steep rise in prices is unlikely amid the ample availability of wheat, he said.

 

The price of wheat in Vashi, Navi Mumbai, was steady at INR 2,700 per 100 kg, said Devendra Vora, a wholesale trader. "The market is in stable mode, there is neither any special demand nor a sharp rise or fall in arrivals, so prices are unchanged," he said.

 

MAIZE prices were steady in Indore at INR 2,175 per 100 kg, Kochar said. Prices were unchanged as limited demand for maize was on par with its limited supply, he said. Arrivals of the summer maize crop have declined significantly, while demand has also tapered out as many millers and traders have stocked up on the coarse grain, he said. The market is monitoring the progress of the monsoon and kharif maize sowing for further cues, he said. While the delay in monsoon is unlikely to impact prices in the near term, a further delay and below-normal rainfall could result in lower acreage and production this year, which is likely to support 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 steady in Vashi, Vora said. Prices of the 1409 and 1509 varieties of basmati rice were steady at INR 9,600-INR 9,700 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 of basmati rice are likely to rise in the near term due to hopes of a revival in demand from West Asia, he said. The US and Iran concluded their first session of peace talks on Monday, and agreed to work on a road map to reach a deal in 60 days. This deal includes the reopening of the Strait of Hormuz, a key waterway in West Asia. Countries in West Asia are the top destinations for Indian basmati rice exports.  End

 

Edited by Avishek Dutta

 

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