Informist, Monday, Nov 29, 2021
By Uddipta Banerjee
NEW DELHI – Prices of wheat across major markets in the country rose today on improved demand, and maize prices rose marginally in Bihar’s Purnea market, traders said.
* Prices of WHEAT in Kota rose on the back of improved demand, local trader Aniket Mehta said. Arrivals were pegged at 8,000 bags (1 bag = 100 kg), up from 5,000 bags on Saturday.
* On Wednesday, the Union Cabinet approved the extension of the Pradhan Mantri Garib Kalyan Anna Yojana till Mar 31 at an additional cost of 533.4 bln rupees. Demand for wheat fell after the announcement, and has only recovered today, Mehta said.
* In Indore, Madhya Pradesh, wheat prices rose due to demand from bulk buyers for good-quality grain, local trader Jitendra Panwar said.
* Arrivals were pegged at 3,000 bags (1 bag = 100 kg), compared with 1,500 bags on Saturday.
* Prices of MAIZE in Purnea, Bihar, rose marginally today because of demand from bulk buyers. However, the rise was limited because of inferior quality of arrivals, which capped the increase in demand. Arrivals were pegged at 7,500 bags (1 bag = 65 kg), compared with 7,000 bags the previous day.
* Quality of the arrivals is expected to improve in the near term and subsequently lead to an increase in demand from bulk buyers, said local trader Sumit Kumar.
* Prices of maize were largely unchanged in Davanagere, Karnataka, on lukewarm demand, traders said. Arrivals were pegged at 10,000 bags (1 bag = 65 kg) today, unchanged from the previous day.
* Demand from domestic bulk buyers has fallen on year because of inferior quality of arrivals due to heavy rainfall in the state in the past couple of weeks, local trader Shiv Kumar said.
* Prices of BASMATI 1121 PADDY and BAJRA were largely unchanged across markets.
Edited by Pranav S. Joshi
Cogencis news is now Informist. This follows the acquisition of Cogencis Information Services Ltd by NSE Data & Analytics Ltd, a 100% subsidiary of the National Stock Exchange of India Ltd. As a part of the transaction, the news department of Cogencis has been sold to Informist Media Pvt Ltd.
Informist Media Tel +91 (11) 4220-1000
Send comments to [email protected]
© Informist Media Pvt. Ltd. 2021. All rights reserved.