India Grain: Wheat prices flat in Indore; maize prices unchanged

Informist, Monday, Jun 5, 2023

By Arunima Bharadwaj

NEW DELHI – Prices of mill-quality wheat were flat in key wholesale markets of Indore, Madhya Pradesh, and those of maize remained steady in the benchmark markets across the country, said traders.

In Indore, prices of mill-quality WHEAT remained unchanged and arrivals were pegged at 3,000 bags, said Lavish Shah, a local trader.

Prices are expected to rise in the coming days as the beginning of the month usually sees an increase in demand, said the Indore-based trader. 

Prices of wheat in Kota, Rajasthan, were unavailable.

Wheat production in 2022-23 (Jul-Jun) is estimated at a record 112.7 mln tn, 4.2% higher than the output of 107.7 mln tn in the previous crop year, according to the third advance estimate of the government.

The US Department of Agriculture has estimated global wheat production in 2023-24 at 789.8 mln tn, higher than the estimated 788.3 mln tn in 2022-23.

Prices of MAIZE remained steady in the key market of Davanagere in Karnataka due to regular demand and supply, said Shiva Kumar, a local trader. Maize was sold at 1,900-2,050 rupees per 100 kg and arrivals were steady at 1,000 bags.

In Purnea, Bihar, maize was sold at 1,680-1,780 rupees per 100 kg, steady from Friday, and daily arrivals were at 5,000 bags, down 1,000 bags from the previous day of trade, Kanhaiya Kumar, a local trader said.

The following table details grain prices in major markets, along with the change:

COMMODITY

MARKET

PRICE

(rupees/100 kg)

CHANGE

(rupees)

Wheat

Indore

2,350—

Wheat

Kota

     NANA

Maize    

Davanagere

   1,900-2,050

—

Maize

Purnea

1,700-1,780

—

End

Edited by Ashish Shirke

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Source: Cogencis