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India Grain: Wheat falls across markets on weak demand; maize flat

Informist, Friday, Jul 8, 2022


By Tanya Rana


NEW DELHI – Prices of wheat fell in benchmark markets across the country today due to weak local demand, while those of maize were steady across major markets, market participants said.


* Prices of mill-quality WHEAT fell in Indore, Madhya Pradesh, due to subdued demand from flour millers and stockists, said local trader N.K. Agarwal.


* Arrivals were pegged at 6,000 bags, down 2,000 bags from the previous trading day. 


* The government’s decision to cap wheat flour exports is also expected to weigh on the prices of the commodity for some time, Agarwal said.


* Prices of mill-quality wheat fell in Kota, Rajasthan, due to reduced domestic demand despite a decline in arrivals, said local trader Chander Khandelwal.


* Arrivals were pegged at 5,000 bags (1 bag = 50 kg), down 2,000 bags from the previous trading day. Arrivals were down as unsuitable weather disrupted supply.


* “Arrivals are expected to be low for the next few weeks as farmers are busy sowing other crops like paddy and soybean,” traders said.


* Today, prices of MAIZE were unchanged in Purnea, Bihar, due to steady demand and supply, said Kanhaiya Rastogi, a local dealer.


* Arrivals were pegged at 30,000 bags (1 bag = 65 kg), unchanged from the previous day.


* Maize prices were also flat in Davanagere, Karnataka. Arrivals were pegged steady at 1,000 bags, said local trader Shiva Kumar. 


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


COMMODITY  MARKET     PRICE     CHANGE (rupees/100 kg)    (rupees)WheatIndore      2,050-2,100           (-) 25WheatKota      2,020-2,060           (-) 60Maize    Davanagere            2,600


MaizePurnea      2,100-2,250               —Pusa 1121 basmati paddyAmritsar      3,120-3,160               —BajraJaipur      1,400-1,500               —




Edited by Namrata Rao



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Source: Cogencis

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