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India Grain:Wheat prices unchanged in Indore, maize steady in Purnea

Informist, Thursday, Aug 17, 2023

 

By Arunima Bharadwaj

 

NEW DELHI – Prices of wheat in the benchmark markets of Indore, Madhya Pradesh, were steady, and those of maize in Purnea, Bihar, were also unchanged, market participants said.

 

In Indore, mill-quality WHEAT was sold at 2,500-2,525 rupees per 100 kg, said Lavish Shah, a local trader. Arrivals of the grain were pegged at 2,000 bags (1 bag = 50 kg). Markets in Indore reopened today after being shut for three days, local traders said.

 

In Delhi, wheat was sold at 2,485-2,500 rupees per 100 kg, largely steady from the previous trading day, according to a poll conducted by Informist. 

 

Food Corp of India sold 152,000 tn of wheat in open markets across regions in its eighth e-auction on Wednesday. It also sold 8,300 tn of rice in open markets, according to official data from the agency.

 

The agency has sold 973,000 tn of wheat and 10,520 tn of rice cumulatively in all the e-auctions conducted till date. 

 

The US Department of Agriculture has scaled down its estimate for global wheat consumption in 2023-24 by 3.4 mln tn to 796.1 mln tn in August from 799.5 mln tn projected last month. The agency also projected global production of wheat in 2023-24 at 793.37 mln tn, lower than 796.67 mln tn estimated in July. 

 

The US agency has retained India’s wheat production and consumption estimates at 113.5 mln tn and 108.1 mln tn, respectively.

 

MAIZE prices in Purnea were steady today at 2,080 rupees per 100 kg, said Kanhaiya Rastogi, a local trader. Arrivals of the grain were also pegged steady at 1,000 bags.

 

Farmers have sown maize over 7.92 mln ha so far in the 2023-24 (Jul-Jun) crop year, as against 7.75 mln ha a year ago.

 

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

 

COMMODITY

MARKET

PRICE

(rupees/100 kg)

CHANGE

(rupees)

Wheat

Delhi

2,485-2,500—

Wheat

Indore

2,500-2,525—

Maize    

Davanagere

——

Maize

Purnea

2,080

 

End

 

Edited by Avishek Dutta

 

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.

 

Informist Media Tel +91 (11) 4220-1000

Send comments to [email protected]

 

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

Source: Cogencis

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