Informist, Friday, Sep 22, 2023
By Arunima Bharadwaj
NEW DELHI - Prices of mill-quality wheat were steady today in Kota and Indore, market participants said. Maize prices fell in Davanagere, local traders said.
In Kota, mill-quality WHEAT was sold at 2,400-2,450 rupees per 100 kg, unchanged from Thursday despite a decline in arrivals, said local trader Aniket Mehta. Arrivals of the staple grain were pegged at 8,000 bags (1 bag = 50 kg), down 2,000 bags from the previous day of trade, Mehta said.
In Indore, Madhya Pradesh, wheat was sold at 2,525 rupees per 100 kg, steady from Thursday and arrivals were pegged at 200 bags, local traders said.
The US Department of Agriculture has marginally scaled down its estimate for global wheat consumption in 2023-24 by 200,000 tn to 795.9 mln tn, compared with 796.1 mln tn projected last month.
The agency also projected global wheat production in 2023-24 at 787.34 mln tn, down from 793.37 mln tn projected in August.
MAIZE prices in Davanagere fell by 30 rupees to 2,250 rupees per 100 kg. Arrivals were pegged lower by 200 bags at 100 bags. "New crop has started arriving in the market and has a moisture content of 20-30% against a permissible level of 11-12%," Kumar said.
So far in 2023-24 (Jul-Jun), farmers have sown maize across 8.4 mln ha against 8.1 mln ha a year ago.
The following table details grain prices in major markets, along with the change:
COMMODITY | MARKET | PRICE (rupees/100 kg) | CHANGE (rupees) |
|---|---|---|---|
Wheat | Indore | 2,525 | -- |
Wheat | Kota | 2,400-2,450 | -- |
Maize | Davanagere | 2,250 | (-) 30 |
Maize | Purnea | -- | -- |
Edited by Akul Nishant Akhoury
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