Informist, Wednesday, Oct 4, 2023
By J Navya Sruthi and Ishan Rathi
MUMBAI – Prices of maize were slightly up in Davanagere, Karnataka, due to demand for new crop. Maize prices remained flat in Purnea, Bihar, due to lack of triggers, market participants said. Prices of wheat, too, were flat in Kota, Rajasthan.
In Davanagere, prices of MAIZE rose slightly to 1,600-2,100 rupees per 100 kg from 1,500-2,000 rupees per 100 kg on Tuesday, Shiva Kumar, a local trader, said. However, arrivals increased to 500 bags (1 bag = 60 kg) from 300 bags on Tuesday, he said.
As the crop is being harvested in Karnataka, more arrivals are expected in November, he said.
In Purnea, Bihar, prices of maize were unchanged from Tuesday at 2,020-2,050 rupees per 100 kg, Kanhaiya Rastogi, a local trader, said. Arrivals were also unchanged from Wednesday at 15,000 bags (1 bag = 60 kg), he said.
The prices may remain stable till Oct 15 due to lack of demand, Rastogi said. However, if the global demand for Indian maize increases, it will have a positive effect on the prices, he added.
Prices of mill-quality WHEAT in Kota, Rajasthan, were flat at 2,350-2,400 rupees per 100 kg, said Aniket Mehta, a local trader. Arrivals were down at 10,000 bags (1 bag = 60 kg) from 12,000 bags on Tuesday, Mehta said.
Prices of wheat may increase after Oct 15 due to more demand during the upcoming festival season, Mehta said.
As of Sep 22, maize acreage in India was 8.5 mln ha, up 3.2% from 8.2 mln ha in the corresponding period last year.
The following table details grain prices in major markets, along with the change:
End
Edited by Manisha Baxla
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 [email protected]
© Informist Media Pvt. Ltd. 2023. All rights reserved.
Source: Cogencis
