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Informist, Wednesday, Jul. 8, 2026

 

By Shreya Shetty

 

MUMBAI – Prices of grains were steady in key spot markets across the country. Wheat prices in the near term are likely to take cues from the government's open-market sales of wheat, which are yet to commence, they said. Maize and rice prices are expected to rise in the near term as acreage of both the grains in the ongoing kharif season remains lower than the previous year, they said.

 

Prices of WHEAT in Indore, Madhya Pradesh, were steady at INR 2,730 per 100 kilograms, said Gaurav Kochar, a local trader. Prices were unchanged amid a lack of fresh cues, he said. The market is awaiting the commencement of open-market sales, which could determine the movement of prices in the near term. Most market participants expect a decline in market prices once the government begins selling wheat through open-market sales. However, Kochar believes that the reserve prices set by the government for such sales are likely to act as a base selling price for wheat, preventing a sharp drop in market prices, 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.

 

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, as many market participants stayed away due to intense rainfall over Mumbai and its suburbs. Arrivals in the market have also declined as heavy rainfall has hit transportation. Vora expects prices to fall by INR 50 per 100 kg once activity in the market revives, as demand is expected to remain largely low.

 

MAIZE prices in Indore were steady at INR 2,360 per 100 kg, Kochar said. Prices were unchanged amid steady demand, he said. Demand has stabilised now that prices are below the INR 2,400 per 100 kg mark, he said. Earlier, buyers were refusing to purchase the coarse grain as prices had climbed above INR 2,400 per 100 kg. The market is monitoring the ongoing kharif maize sowing for further cues, he said. As of Friday, the area sown under maize fell to 3.29 million hectares from 3.50 million hectares last year, data from the agriculture ministry showed.

 

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 are likely to rise in the near term if the kharif rice acreage remains low, he said. As of Friday, paddy acreage fell to 6.02 million hectares from 6.93 million hectares a year ago, according to the agriculture ministry.  End

 

Edited by Akul Nishant Akhoury

 

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