Informist, Monday, Feb 28, 2022
By Tanya Rana
NEW DELHI – Price of wheat rose today in Kota, Rajasthan, but was unchanged in Indore, Madhya Pradesh. On the other hand, price of maize rose in Davanagere, traders said.
* Price of MAIZE rose in Davanagere, a key market in Karnataka, due to increased demand from the poultry sector, said a local trader Shiva Kumar.
* However, increased supply prevented a sharp rise in prices. Arrivals were pegged at 1,000 bags (1 bag = 65 kg), up 400 bags from the previous day.
* Maize price in Purnea, Bihar, remained stable due to demand-supply parity, said a local trader Kanhaiya Rastogi. Arrivals were steady at 800 bags.
* Prices of mill-quality WHEAT rose today in Rajasthan’s Kota market due to high export demand amid tensions between Russia and Ukraine, said a local trader Chander Khandelwal.
* Arrivals were pegged at 3,500 bags (1 bag = 100 kg), against 2,500 bags the previous day.
* Russia and Ukraine together export more than a quarter of wheat to the world. Any hindrance to supplies amid geopolitical tensions will make wheat expensive.
* Sanctions placed on Russia in the wake of its invasion of Ukraine have hit export of grains. Russia is the world’s largest exporter of wheat, accounting for more than 18% of international exports.
* Prices of mill-quality wheat in Indore, Madhya Pradesh, were unchanged today as an increase in supply was offset by high demand from bulk buyers for fresh crop, said N.K. Agarwal, a local trader.
* Wheat in Indore was sold at 2,300 rupees per 100 kg. Arrivals were pegged at 6,000 bags, compared with 3,000 bags the previous day.
* Prices of BASMATI 1121 PADDY and BAJRA were largely unchanged across markets.
End
Edited by Deepshikha Bhardwaj
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