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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               —

 

End

 

Edited by Namrata Rao

 

 

For users of real-time market data terminals, Informist news is available exclusively on the NSE Cogencis WorkStation.

 

Cogencis news is now Informist news. 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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