Informist, Thursday, Feb 22, 2024
By J. Navya Sruthi
MUMBAI – Prices of wheat and rice were steady in the key markets today due to lack of fresh cues, market participants said. Maize prices were unavailable today.
Prices of mill-quality WHEAT were largely steady at 2,200-2,450 rupees per 100 kg in Indore, Madhya Pradesh, said Jitendra Panwar, a local wheat trader. Arrivals rose to 5,700 bags (1 bag = 60 kg) from 5,500 bags the previous day, Panwar said.
“The prices were almost similar to the previous day,” Panwar said. Despite increased arrivals, prices were largely steady as most arrivals had only acceptable levels of moisture content, he added.
“Grains with moisture content 15%-17% are being sold at 2,450 rupees per 100 kg, while those with 20%-22% were sold at 2,200 rupees,” Panwar said. However, the typical acceptable levels of moisture content is 14%, he added.
In Kota, mill-quality wheat prices were steady from the previous day at 2,400 rupees, said Mehta. Arrivals were pegged at 4,000 bags (1 bag = 60 kg) against 5,000 bags on the previous day, the trader said.
According to the consumer affairs department, the all-India average wholesale price of wheat today was 2,744.4 rupees per 100 kg, down 34.81 rupees from 2,779.27 rupees a year ago and 23.67 rupees lower than last month.
The price of Sona Masoori RICE was steady at 5,700-5,800 rupees per 100 kg in Bhavanipuram, Vijayawada, Andhra Pradesh, said Ravi Shankar, a local trader. Prices are likely to fall further on arrivals of the new crop in markets, the trader said.
“The 100-day variety crops such as Samba Masoori, started to arrive in the markets,” Shankar said. However, the trader did not mention the number of arrivals today.
According to the consumer affairs department, the all-India average wholesale price of rice today was 3,883.45 rupees per 100 kg, up 499.75 rupees from 3,383.7 rupees a year ago, but 35.28 rupees lower than last month’s price.
End
Edited by Manisha Baxla
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