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Informist, Friday, Jul. 3, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of grains were steady in key spot markets across the country, traders said. Wheat prices in the near term are likely to depend on the commencement of the open-market sales scheme and the prices set for it, they said. Maize and rice prices could be supported in the near term by expectations of lower kharif production amid a delayed monsoon and below-normal rainfall forecasts, they said.

 

Prices of WHEAT in Indore were steady at INR 2,720 per 100 kg, said Gaurav Kochar, a local trader. Prices were unchanged as low demand for wheat was on par with low arrivals, he said. Arrivals remain low as farmers are busy sowing kharif crops in Madhya Pradesh. The state began recording monsoon showers in the last few days, which has enabled farmers to begin preparing their fields for kharif crops and commence sowing in some areas, he said. Prices had risen during the first half of the week due to the slowdown in arrivals, but with no increase in demand, prices have stabilised, he said. 

 

In the near term, prices are likely to depend on when the open-market sales scheme for wheat will begin, and what prices the government will set, Kochar said. The Centre on Sunday concluded its wheat procurement for the 2026-27 rabi marketing season, surpassing its procurement target for the first time in five years. Farmers largely sold wheat to the government amid weak market demand for weather-damaged grain. As of Sunday, Food Corp. of India and state agencies had procured 35.76 million tonnes of wheat, up over 19.4% on year and higher than the revised target of 34.60 million tonnes, according to FCI data.

 

With wheat procurement closed for the season on a strong note and foodgrain stocks swelling in the central pool, the government may soon start wheat sales under the open market scheme. Millers and traders are awaiting clarity on wheat allocation for the open market sales scheme to gauge market prices in the coming months.

 

Prices of wheat in Vashi, Navi Mumbai, were steady at INR 2,700 per 100 kg, said Devendra Vora, a wholesale trader. Prices are unchanged amid lack of fresh cues in the market, he said.

 

MAIZE prices in Indore were steady at INR 2,400 per 100 kg, Kochar said. The market is monitoring the sowing of kharif maize for further cues, he said. A late monsoon onset has delayed maize acreage across the country, fuelling fears of lower kharif production this year, he said. This is likely to support prices in the near 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. Similar to maize, rice prices are likely to rise in the near term due to prospects of lower production during the kharif season this year, he said. Forecasts of below normal rainfall during monsoon are also likely to impact the yield of the crop further, he said.  End

 

Edited by Avishek Dutta

 

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