Informist, Monday, May 16, 2022
By Tanya Rana
NEW DELHI – Prices of wheat fell in the spot markets of Kota, Rajasthan, after India banned exports of the food grain, while those of maize were flat across key wholesale markets, market participants said.
* In Kota, prices of mill-quality WHEAT fell after India banned exports of the food grain due to a decline in domestic supply, local trader Chander Khandelwal said.
* Arrivals were pegged at 25,000 bags (1 bag = 50 kg), down 15,000 bags from the previous trading day.
* The government had prohibited wheat exports on Friday to manage overall food security in the country and meet the requirements of neighbouring and other vulnerable countries.
* The government restricted wheat exports to control food prices in the domestic market, which have been on the rise since the Russia-Ukraine war.
* Prices of mill-quality wheat were unavailable in Indore, Madhya Pradesh, as the market was closed on account of Buddha Purnima, local trader N.K. Agarwal said.
* Prices of MAIZE were steady in Purnea, Bihar, due to thin trade as the state experienced heavy rainfall, Kanhaiya Rastogi, a local trader, said.
* Arrivals were pegged at 105,000 bags (1 bag = 65 kg), compared with 210,000 bags from the previous day, traders said. Arrivals fell sharply due to heavy rainfall.
* The prices of maize were flat in Davanagere, a major market in Karnataka, due to unchanged demand and supply, local trader Shiva Kumar said.
* Arrivals were pegged at 1,000 bags, unchanged from the previous day.
* Prices of BASMATI 1121 PADDY and BAJRA were largely unchanged across markets.
End
Edited by Vidhi Verma
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Source: Cogencis
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