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India Grain: Purnea maize prices rise on low arrivals; wheat steady

Informist, Tuesday, Jan 10, 2023

 

By Tanya Rana

 

NEW DELHI – Prices of maize in Purnea, Bihar, rose today due to lower supply amid the ongoing lean season, while those of wheat were flat in the benchmark markets of Rajasthan and Madhya Pradesh, traders said.

 

* Prices of MAIZE rose in Purnea due to a decline in arrivals amid the ongoing lean season, said Kanhaiya Rastogi, a local dealer. Arrivals were pegged at 4,000 bags (1 bag = 60kg), down 500 bags on Monday. 

 

* The commodity is expected to trade in the range of 2,280-2,450 rupees per 100 kg this week due to weak demand, Rastogi added. 

 

* Supply of the coarse grain may fall further in Bihar over the next few days because of the ongoing lean season, and the fresh crop will hit markets only in the first week of April.

 

* The area under maize across the country is around 1.92 mln ha, 21.7% higher than a year ago, data from the agriculture ministry showed.

 

* Prices of maize in Davanagere, Karnataka, were flat and arrivals were at 1,000 bags, down 300 bags from the previous trading day, said Shiva Kumar, a local trader.

 

* Prices of mill-quality WHEAT were flat in the key market of Kota, Rajasthan, and arrivals were pegged at 2,500 bags (1 bag = 50 kg), compared with 4,000 bags on Monday. 

* Similarly, prices remained unchanged in Indore, Madhya Pradesh, with arrivals also steady at 2,000 bags, said N.K. Agarwal, a local trader. 

 

* A good production outlook and favourable weather conditions are expected to weigh on prices in the coming days. The overall area under wheat in the country is around 33.2 mln ha, 1% higher than a year ago, agriculture ministry data showed. 

 

* Prices are currently at 2,900-2,910 rupees per 100 kg in north Indian markets, well above the government’s minimum support price of 2,015 rupees for the current season. 

 

* Prices of BASMATI 1121 RICE were stable today due to steady demand, said Raman, a local dealer.

 

* During Apr-Nov, exports of basmati rice rose 39.3% to $2.87 bln, data from the Agricultural and Processed Food Export Development Authority showed.

 

COMMODITY

    MARKET

     PRICE

  CHANGE

 (rupees/100 kg)

    (rupees)

Wheat

Indore

2,700-2,750

Wheat

Kota

2,500

Maize    

Davanagere

      2,080-2,230

Maize

Purnea

     2,280-2,400

 20

Pusa 1121 basmati rice

Amritsar

   9,100-9,200

 

End

 

Edited by Tanima Banerjee

 

 

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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© Informist Media Pvt. Ltd. 2023. All rights reserved.

 

Source: Cogencis

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