Informist, Tuesday, Jan 30, 2024
By J Navya Sruthi
MUMBAI – Prices of mill-quality wheat in the wholesale markets of Kota, Rajasthan, were a tad lower today. Market participants expect wheat prices to fall in the coming days. Also, maize prices in Davanagere, Karnataka, fell slightly, market participants said. Prices of rice were flat in Bhavanipuram, Vijayawada, they said.
WHEAT prices in Kota were at 2,400 rupees per 100 kg, 25 rupees lower than the previous day of trade, while arrivals were steady at 3,000 bags (1 bag = 60 kg), said Aniket Gupta, a local trader.
The staple grain was at 2,300-3,328 rupees per 100 kg and arrivals were 1,000 bags (1 bag = 60 kg) in Indore, Madhya Pradesh, Jitendra Panwar said. Today, there were 300 bags of new wheat arrivals which were priced at 2,500-2,887 rupees per 100 kg. The trader expects prices to fall due to increasing arrivals in the coming days.
According to data released by the Department of Agriculture and Farmers Welfare, the acreage of wheat, the major rabi crop, was 1.7% higher on year at 34.0 mln ha. In India, wheat is grown only in the rabi season.
MAIZE prices were a tad down today in Davanagere at 2,000-2,230 rupees per 100 kg from 2,200-2,250 rupees per 100 kg on the previous trading day, said Shiva Kumar, a local maize trader. Arrivals were at 3,000 bags (1 bag = 60 kg), 1,000 bags higher than the previous day, Kumar said. A 20–50 rupee change in prices is negligible, he added.
The area under maize has risen in the current rabi season despite it being a kharif crop. The data released by the Department of Agriculture and Farmers Welfare showed that the queen of cereals, maize, was sown over 2.13 mln ha, which is 3.5% higher from a year ago.
Prices of Sona Masoori variety of RICE were flat at 6,500 rupees per 100 kg in Bhavanipuram, Vijayawada, Ravi Shankar, a local rice trader, said. The trader expects that prices may increase till Feb 15 as rice millers will hoard the stocks at the beginning of the month. Also, the Michaung cyclone in December affected the crop, the trader said. “Prices may increase by 200–300 rupees (per 100 kg),” he added.
End
Edited by Vidhi Verma
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