Informist, Monday, Feb 26, 2024
By J. Navya Sruthi
MUMBAI – Wheat prices in Indore and Kota were a tad up today due to a rise in demand, traders said. Prices of rice and maize were steady in key markets, they said.
Prices of mill-quality WHEAT were a tad up at 2,200-2,425 rupees per 100 kg against 2,200-2,400 rupees per 100 kg from the previous day in Indore, Madhya Pradesh, said Jitendra Panwar, a local wheat trader. Prices of mill-quality wheat in Kota, Rajasthan, also rose by 25 rupees to 2,400 rupees per 100 kg, said Aniket Mehta, a local trader.
Wheat prices rose as demand continues to be firm for the grain, Mehta said. As the new crop arrivals season has started, prices are expected to fall by 100 rupees per 100 kg in the next two to three weeks, Panwar said. Arrivals in Indore mandi rose by 1,500 bags to 9,000 bags (1 bag = 60 kg), while in Kota mandi it fell by 1,000 bags to 3,000 bags, traders said.
The arrival of the new wheat crop in Kota was at 1,000 bags, Mehta said. The price for the new wheat, which is of superior quality, was 2,500-2,700 rupees per 100 kg, Mehta said. Though new wheat arrivals have started, people continue to buy the old crop, Mehta said.
According to the Department of Consumer Affairs, the all-India average wholesale price of wheat today was 2,751.55 rupees per 100 kg, up 5.01 rupees from 2,746.54 rupees a year ago and 30.6 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. “Currently there are no expectations on price movement. Any news by the government related to rice may move the prices up or down,” Shankar said.
According to the Department of Consumer Affairs, the all-India average wholesale price of rice today was 3,886.08 rupees per 100 kg, up 511.87 rupees from 3,374.21 rupees a year ago, and 7.31 rupees higher than last month’s price.
MAIZE prices were steady at 2,000-2,200 rupees per 100 kg in Davanagere, Karnataka, said Shiva Kumar, a local trader. Arrivals were estimated steady at 1,000 bags (1 bag = 60 kg), he said. Kumar expects the prices to be steady till Thursday, and any movement in rates will depend on the arrivals in Andhra Pradesh and Bihar.
End
Edited by Saji George Titus
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