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Thursday, February 29, 2024

India Grain: Wheat, maize prices remain flat in key wholesale mkts

Informist, Thursday, Oct 12, 2023

 

By Yukta Mudgal

 

MUMBAI – Prices of mill-quality wheat and maize remained steady today, even as arrivals in the key wholesale markets of Rajasthan, Karnataka, and Bihar increased.

 

“Around 1,000 bags arrived today, which is not enough to drag down prices. I expect prices to rise, unless the government decides to release wheat stocks in the market,” said local trader Aniket Mehta.

 

WHEAT prices in Kota remained flat at 2,450-2,475 rupees per 100 kg, even though the arrivals increased by 1,000 bags to 8,000 bags (1 bag = 60 kg) from the previous day, said Mehta.

 

In the key wholesale market of Davanagere, Karnataka, MAIZE prices remained largely flat at 1,560-2,100 rupees per 100 kg, said Shiva Kumar, a local trader. The arrivals were up by 1,000 bags to 3,000 bags (1 bag = 60 kg).

 

“Maize had more than 30% moisture content today. But, on average, the quality was not that bad. Demand might pick up as the season has just started,” said Kumar.

 

In Purnea, Bihar, as well, prices of maize remained flat at 2,000-2,050 rupees per 100 kg, said local trader Kanhaiya Rastogi. The arrivals also remained steady at 15,000 bags (1 bag = 60 kg).

 

Agriculture ministry data shows maize acreage in India was 8.6 mln ha as of Sep 29, up 3.2% from 8.3 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

Indore

——

Wheat

Kota

2,450-2,475              —

Maize    

Davanagere

1,560-2,10040

Maize

Purnea

2,000-2,050

 

End

 

Edited by Ashish Shirke

 

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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