Informist, Wednesday, Nov 8, 2023
By Yukta Mudgal
MUMBAI – Prices of wheat fell in the benchmark market of Indore in Madhya Pradesh, while they remained flat in Kota, Rajasthan. Maize prices were flat, too, in the benchmark market of Karnataka.
“I don’t expect wheat prices to rise because the government has increased the quantity of wheat in auctions, and is even selling atta (wheat flour) at a subsidised price,” said Jitendra Panwar a local trader in Indore. “I don’t anticipate sharp changes in prices. Prices will be down or up by 100 rupees in the coming months,” he said.
On Monday, the consumer affairs, food and public distribution ministry launched sale of subsidised wheat under the brand ‘Bharat Atta’ at 27.50 rupees per kg to stabilise prices.
Last week, the government had increased the total maximum quantity of wheat auctioned under the open market sales scheme to 300,000 tn per auction from 200,000 tn earlier to increase domestic supply.
WHEAT prices in Indore fell by 15 rupees to 2,660 rupees per 100 kg from the previous day. Arrivals o the staple remained steady at 4,000 bags (1 bag = 60 kg), said Panwar.
In Kota, wheat prices remained flat at 2,450 rupees per 100 kg, and arrivals remained steady at 10,000 bags (1 bag = 60 kg), said local trader Aniket Mehta.
MAIZE prices in Davanagere, Karnataka, too remained flat at 2,000-2,350 rupees per 100 kg. However, the arrivals fell by 1,000 bags to 5,000 bags (1 bag = 60 kg) due to rainfall in the region, said local trader Shiva Kumar.
Until the fourth week of October, maize was being traded below the minimum support price of 2,090 rupees in key markets across India. “The prices rose due to less moisture content in maize in November,” said Kumar.
End
Edited by Ashish Shirke
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