Informist, Monday, Dec 4, 2023
By Yukta Mudgal
MUMBAI – Prices of mill-quality wheat fell in Indore, Madhya Pradesh and Kota, Rajasthan due to low demand. However, maize prices remained flat in the benchmark market of Davanagere, Karnataka.
WHEAT prices in Kota fell by 50 rupees to 2,450 rupees per 100 kg (1 bag = 60 kg) from the previous day, while arrivals remained steady at 7,000 bags, local trader Aniket Mehta said. Prices are low as the month has just begun and demand has not picked up, Mehta said. “Prices may increase as the government will buy wheat for 2,700 rupees per 100 kg from the farmers next year,” he said.
Earlier this month, the Bharatiya Janata Party in its election manifesto promised to raise the procurement price of wheat to 2,700 rupees per 100 kg in Rajasthan. The results of the legislative assembly elections held on Nov 25 in Rajasthan were announced on Sunday, in which the BJP won 115 seats.
The minimum support price for wheat for the 2024-25 marketing season is 2,275 rupees.
In Indore, wheat prices fell by 25 rupees to 2,625 rupees per 100 kg. However, arrivals fell by 1,000 bags to 2,000 bags, a local trader Jitendra Panwar said.
MAIZE prices in Davanagere were flat at 2,000-2,350 rupees per 100 kg and arrivals increased by 3,000 bags to 6,000 bags (1 bag = 60 kg), Shiva Kumar, a local trader said. Arrivals are usually high after the market opens after the weekend, he said.
The daily average consumer wholesale price for RICE fell by 76.96 rupees today to 3,779.81 rupees per 100 kg from the previous day, according to the consumer affairs department.
The following table details grain prices in major markets, along with the change:
End
Edited by Deepshikha Bhardwaj
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