Informist, Tuesday, Sep 26, 2023
By J Navya Sruthi and Ishan Rathi
MUMBAI – Prices of mill-quality wheat were steady today in Indore and Kota as supply and demand remained balanced for the second consecutive day, market participants said. Maize prices fell marginally in Davanagere, local traders said.
In Indore, Madhya Pradesh, WHEAT prices were the same as on Monday at 2,520 rupees per 100 kg, said Lavish Shah, a local trader. He said arrivals were also steady, as well at 3,000 bags.
In Kota, Rajasthan, prices of mill-quality wheat were largely unchanged at 2,400-2,450 rupees per 100 kg, Aniket Mehta, a local trader, said. Arrivals of the staple grain were at 12,000 bags (1 bag = 60 kg), Mehta said.
The trader said that in Madhya Pradesh, 1 bag equals 100 kg and in Rajasthan, it is 60 kg.
MAIZE prices in Davanagere were down 100 rupees at 1,800-2,200 rupees per 100 kg from the previous day, Shiva Kumar, a local trader, said. Arrivals were pegged higher by 10 bags from the previous day at 350 bags (1 bag = 60 kg).
The constant fall in prices is because of new maize arrivals in the market, Shiva Kumar said.
Also, the moisture content is very high in the new arrivals, and it was sold with 18% moisture content at 2,200 rupees per 100 kg, Kumar said. Stock with more than 20% moisture content was sold at 1,800 rupees per 100 kg, he added.
Maize prices were also unchanged in Purnea, Bihar, at 2,100 rupees per 100 kg, Kanhaiya Rastogi, a local trader said. Arrivals were also the same at 5,000 bags, he said.
In Purnea, 1 bag of maize equals 65 kg, Rastogi added.
As of Friday, maize acreage in India was 8.5 mln ha, up 3.2% from the corresponding year at 8.2 mln ha.
The following table details grain prices in major markets, along with the change:
End
Edited by Maheswaran Parameswaran
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