Informist, Friday, Jun 9, 2023
By Arunima Bharadwaj
NEW DELHI - Prices of mill-quality wheat fell today in Indore, Madhya Pradesh due to sluggish demand. Prices of maize rose in Davanagere, Karnataka after the arrivals declined, traders said.
In Indore, prices of mill-quality WHEAT fell today to 2,275 rupees per 100 kg due to low demand for the staple grain, said Lavish Shah, a local trader. Arrivals were pegged at 3,500 bags (1 bag = 50 kg), down 500 bags from the previous day of trade.
In Kota, wheat was sold at 2,140-2,180 rupees per 100 kg, down 10 rupees from Thursday, Aniket Mehta, a local trader said. Arrivals were pegged steady at 40,000 bags.
Wheat production in 2022-23 (Jul-Jun) is estimated at a record 112.7 mln tn, 4.2% higher than the output of 107.7 mln tn in the previous crop year, according to the government's third advance estimate.
The US Department of Agriculture has estimated global wheat production in 2023-24 at 789.8 mln tn, higher than the estimated 788.3 mln tn in 2022-23.
Prices of MAIZE in Davanagere rose today as arrivals declined, Shiva Kumar, a local trader, said. Maize was sold at 1,950-2,075 rupees per 100 kg, up 20 rupees from Thursday. Arrivals were pegged at 500 bags, down 300 bags from the previous day of trade.
In Purnea, Bihar, maize prices were unchanged at 1,680-1,780 rupees per 100 kg, said Kanhaiya Rastogi, a local trader. Arrivals were pegged at 3,000 bags, unchanged from Thursday, traders said.
The government has increased the minimum support price of maize by 128 rupees per 100 kg to 2,090 rupees for the upcoming 2023-24 kharif marketing season.
The following table details grain prices in major markets, along with the change:
COMMODITY | MARKET | PRICE (rupees/100 kg) | CHANGE (rupees) |
|---|---|---|---|
Wheat | Indore | 2,275 | (-) 25 |
Wheat | Kota | 2,140-2,180 | (-) 10 |
Maize | Davanagere | 1,950-2,075 | 20 |
Maize | Purnea | 1,680-1,780 | -- |
End
Edited by Tanima Banerjee
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