More Stories

Informist, Tuesday, Jul. 7, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of grains were steady in key spot markets across the country, traders said. The wheat market is awaiting the commencement of open market sales of wheat for further cues on prices, they said. Maize prices are likely to remain unchanged amid stable demand, while rice prices are likely to depend on the progress of kharif sowing, they said. 

 

Prices of WHEAT in Indore, Madhya Pradesh, were steady at INR 2,730 per 100 kg, said Gaurav Kochar, a local trader. Prices were steady as low demand was on par with low arrivals of wheat, he said. The market is waiting for the government to announce the commencement of open market sales of wheat for further cues, he said.

 

Last week, the government set the reserve price of wheat at INR 2,600 per 100 kg for fair and average quality grain and at INR 2,585 for grain under relaxed specifications, reflecting the government's procurement of substantial quantities of weather-damaged wheat from farmers. Last year, the wheat reserve price was INR 2,550 per 100 kg. The current reserve price is valid until Jun. 30, 2027, and excludes transportation charges. However, the government is yet to announce the quantity and timing of wheat sales to private millers under open market sales.

 

With the reserve price of wheat set at INR 2,600 per 100 kg, Kochar does not expect market prices to go sharply below INR 2,700 per 100 kg even if supply increases. "The government has now basically set a base price at which wheat will be sold, which is INR 2,600 per 100 kg. Even if it (the government) offloads wheat, prices will not go too below INR 2,700 per 100 kg, now that the base price is INR 2,600 per 100 kg," he said.

 

Prices of wheat in Vashi, Navi Mumbai, were steady at INR 2,700 per 100 kg, said Devendra Vora, a wholesale trader. Prices were unchanged amid tepid market activity. Most market participants have not stepped out amid a deluge of rainfall over Mumbai and its suburbs in the past few days, he said. Transportation has also taken a hit as movement through entry points into the city is either limited or restricted amid landslides and floods, he said.

 

MAIZE prices in Indore were steady at INR 2,360 per 100 kg, Kochar said. Prices were unchanged amid steady demand, he said. Prices had dipped Monday as buyers had refused to purchase maize at INR 2,400 per 100 kg and above, he said. With prices below the INR 2,400 per 100 kg level, demand has stabilised, 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. The market is monitoring the progress of rice sowing in the ongoing kharif season for more cues, they said. As of Friday, the area under paddy was down at 6.02 million hectares from 6.93 million hectares a year ago, data from the agriculture ministry showed.  End

 

Edited by Himanshi Gupta

 

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.