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India Grain: Spot wheat prices rise on high domestic demand

Informist, Monday, Oct 31, 2022


By Tanya Rana


NEW DELHI – Prices of wheat rose across the benchmark markets in India on high domestic demand, while maize prices were unavailable in Purnea, Bihar, as most mandis were shut and auctions were not held on account of Chhath Puja, market participants said.


* Prices of mill-quality WHEAT rose today in Indore, Madhya Pradesh, due to firm demand from bulk buyers and stockists, local trader N.K. Agarwal said. 


* In Indore, arrivals were pegged flat at 5,000 bags (1 bag = 50 kg). Sowing of wheat has just started in Indore, traders said.


* Prices of mill-quality wheat rose in Kota, Rajasthan, because of high domestic demand and decline in arrivals, said Aniket Mehta, a local trader.


* Arrivals were pegged at 4,000 bags, down 1,000 bags from Saturday.


* The price of MAIZE was flat in the key market of Davanagere, Karnataka. Arrivals were pegged at 19,000 bags (1 bag = 65 kg), up 7,000 bags from the previous trading day.


* Prices of the coarse grain are likely to move in the range of 2,000-2,200 rupees per 100 kg as arrivals of the new crop are increasing, traders said. 

* Maize prices in Purnea were unavailable today because the key wholesale markets were closed on account of Chhath Puja, traders said. 


* Markets in Purnea will resume trade from Tuesday, traders said. 

* Prices of BASMATI 1121 RICE were flat today, traders said.


COMMODITY  MARKET     PRICE     CHANGE (rupees/100 kg)    (rupees)WheatIndore            2,550               75WheatKota      2,350-2,375               25Maize    Davanagere      1,700-2,150


MaizePurnea               —               —Pusa 1121 basmati riceAmritsar      8,750-8,800               —




Edited by Vandana Hingorani



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Source: Cogencis

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