Informist, Thursday, Jun 8, 2023
By Arunima Bharadwaj
NEW DELHI – Prices of mill-quality wheat fell today in Indore, Madhya Pradesh, as arrivals increased. Prices of maize rose in Davanagere, Karnataka, traders said.
In Indore, prices of mill-quality WHEAT fell today to 2,300 rupees per 100 kg after arrivals of the grain increased, said Lavish Shah, a local trader. Arrivals were pegged at 4,000 bags (1 bag = 50 kg), up 500 bags from the previous day of trade.
In Kota, wheat was sold at 2,150-2,180 rupees per 100 kg, steady from Wednesday, local traders said. Arrivals in Kota were pegged at 40,000 bags, down 10,000 bags from the previous day of trade.
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, local traders said. Maize was sold at 1,950-2,055 rupees per 100 kg, up 100 rupees from Wednesday. Arrivals were pegged at 800 bags, down 200 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, down 500 bags from Wednesday, 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:
End
Edited by Avishek Dutta
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