Informist, Friday, Dec 16, 2022
By Tanya Rana
NEW DELHI – Spot prices of mill-quality wheat and maize were unchanged for the second straight day in the key wholesale markets across the country, traders said.
* Prices of mill-quality WHEAT were steady in Indore, Madhya Pradesh, as tepid demand was offset by a fall in supply, said local dealer N.K. Agarwal.
* Arrivals were pegged at 3,000 bags, down 1,000 bags (1 bag = 50 kg) from Thursday.
* On Thursday, the food ministry said that the central pool has sufficient foodgrain stocks to meet requirements of Pradhan Mantri Garib Kalyan Anna Yojana, National Food Security Act, and other schemes.
* As of Dec 12, the Centre’s wheat stocks were at 18.2 mln tn, at a six-year low. Wheat stocks with Food Corp of India have depleted by 2.84 mln tn since November, as per the data.
* Similarly, in Kota, Rajasthan, prices of wheat were flat today, and arrivals were unchanged at 10,000 bags, said local trader Aniket Mehta.
* Prices of MAIZE were stable in Purnea, Bihar, due to lukewarm demand amid decline in supply, local trader Kanhaiya Rastogi said. Arrivals were pegged lower at 6,000 bags, down 1,500 bags from Thursday (1 bag = 65 kg).
* Recently, the All India Starch Manufacturers Association Pvt Ltd had written to the government to ban corn exports to prevent a rise in domestic prices and ensure sufficient supplies. “Continued exports and increased usage for ethanol blending is adding to shortage for domestic feed and starch industry,” according to the letter.
* “Ministry of Food Processing Industries may consider the requests given the current and forecasted production in India,” a top food ministry official told Informist.
* “During Apr-Sep this year, India exported 1.4 mln tn of corn,” the official added.
* In Davanagere, Karnataka, prices of maize were steady and arrivals stayed at 1,500 bags today, said Shiva Kumar, a local trader.
* Prices of BASMATI 1121 RICE were stable, traders said.
End
Edited by Maheswaran Parameswaran
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