Informist, Tuesday, Feb 27, 2024
By J. Navya Sruthi
MUMBAI – Prices of wheat, rice, and maize were steady today in key markets, traders said. However, arrivals of wheat rose while those of maize fell, they added.
Prices of mill-quality WHEAT were steady today in Indore and Kota as the rise in arrivals was offset by firm demand, traders said. Prices of wheat in Kota, Rajasthan, were steady at 2,400 rupees per 100 kg from the previous day, said Aniket Mehta, a local trader. Arrivals were pegged at 4,000 bags (1 bag = 60 kg) against 3,000 bags the previous day.
“Prices are expected to fall once arrivals increase (more),” Mehta said. Arrivals are yet to start in full swing, he added. The peak season for arrivals is after March 15, the trader said. However, robust demand for the grain is restricting the fall in price, Mehta said.
Prices of mill-quality wheat were largely unchanged at 2,200-2,400 rupees per 100 kg in Indore, Madhya Pradesh, said Jitendra Panwar, a local wheat trader. Arrivals rose by 500 bags to 8,000 bags (1 bag = 60 kg) from the previous day, Panwar said.
According to the Department of Consumer Affairs, the all-India average wholesale price of wheat today was 2,739.15 rupees per 100 kg, down 3.77 rupees from 2,742.92 rupees a year ago and 37.61 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. “There are limited sales in the market, which is keeping prices steady,” he said.
According to the Department of Consumer Affairs, the all-India average wholesale price of rice today was 3,903.94 rupees per 100 kg, up 497.69 rupees from 3,406.25 rupees a year ago, and 48.19 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. Kumar expects the prices to remain steady till Thursday. Any movement in rates will depend on arrivals in Andhra Pradesh and Bihar, he said. Arrivals in Davanagere were estimated to be lower by 200 bags at 1,000 bags (1 bag = 60 kg).
End
Edited by Rajeev Pai
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