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India Grain: Wheat falls on talks of export duty; maize up in Purnea

Informist, Monday, May 2, 2022

 

By Tanya Rana

 

NEW DELHI – Wheat prices fell today in the key wholesale markets of Kota and Indore on talks that the government might impose an export duty on the commodity. However, maize prices were up in Purnea, Bihar, but remained unchanged in Davanagere, Karnataka, traders said.

 

* In Kota, prices of mill-quality WHEAT were down sharply today on talks that the government might impose an export duty on the food grain to clamp down exports, said Chander Khandelwal, a local trader.

 

* Arrivals were pegged at 25,000 bags (1 bag = 50 kg), down 8,000 from the previous day of trade.

 

* The government might levy an export duty on wheat to secure food and other commodities for domestic use amid shortages and rising prices, traders said.

 

* Prices of mill-quality wheat in Indore, Madhya Pradesh, were lower on rumours of the export duty, said N. K. Agarwal, a local trader. In Indore, arrivals stayed at 15,000 bags. 

 

* Prices of MAIZE rose marginally in Purnea, Bihar, today due to firm demand for good quality crop, said a local trader Kanhaiya Rastogi.

 

* New crop arrivals were pegged at 112,500 bags, up 7,500 bags from the previous day, traders said. The rise in price was capped because of an increase in supply. 

 

* Bihar is the largest grower of rabi maize and arrivals are on full swing in the state, traders said. 

 

* Prices of maize were flat in Davanagere, a major market in Karnataka, today due to thin trade, said local trader Shiva Kumar.

 

* At Davanagere, arrivals were pegged at 1,000 bags (1 bag = 65 kg), unchanged from Friday. 

 

* Prices of BASMATI 1121 PADDY and BAJRA were largely unchanged across markets.

 

COMMODITY  MARKET     PRICE     CHANGE (rupees/100 kg)    (rupees)WheatIndore            2,000           (-) 25WheatKota      2,080-2,095          (-) 100Maize    Davanagere            2,150               —MaizePurnea      2,170-2,190               20Pusa 1121 basmati paddyAmritsar      3,120-3,160               —BajraJaipur      1,400-1,500               —

 

End

 

Edited by Aditya Sakorkar

 

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.

 

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Source: Cogencis

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