Informist, Tuesday, Oct 17, 2023
By Yukta Mudgal
MUMBAI – Prices of mill-quality wheat and maize were flat today in the key wholesale markets of Rajasthan and Karnataka, respectively.
“Due to the fear of rainfall, traders are selling other stored crops such as mustard and paddy, that is why the arrivals of wheat are low today,” said Aniket Mehta, a local trader in Kota, Rajasthan.
Rainfall increases the moisture content in oilseeds and grains, which lowers the quality and prices of these commodities.
The India Meteorological Department said a cyclonic circulation near north Haryana and its neighbourhood regions is likely to bring heavy rainfall to northwest India today.
WHEAT prices in Kota were flat at 2,450-2,475 rupees per 100 kg. However, arrivals fell by 2,000 bags to 8,000 bags (1 bag = 60 kg) from the previous day, said Mehta.
In Davanagere, Karnataka, MAIZE prices were flat as well, at 1,500 rupees per 100 kg. However, the arrivals increased by 500 bags to 2,500 bags from the previous day, said Shiva Kumar, a local trader.
“The market is not promising for this (maize) crop. Most of the time, grains have more than 30% moisture content. A lot of time is spent on trying to reduce moisture content in these crops to 15-16%,” Kumar said.
Traders have been selling maize below the minimum support price of 2,090 rupees per 100 kg set by the government of India for the 2023-2024 kharif marketing season.
The following table details grain prices in major markets, along with the change:
End
Edited by Tanima Banerjee
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
