Informist, Thursday, Dec 15, 2022
By Tanya Rana
NEW DELHI – Spot prices of mill-quality wheat and maize were stable today in the key wholesale markets across the country, traders said.
* Prices of mill-quality WHEAT were steady in Indore, Madhya Pradesh, as lukewarm demand from stockists was offset by a fall in supply, said local dealer N.K. Agarwal.
* Arrivals were pegged at 4,000 bags, down 1,000 bags (1 bag = 50 kg) from Wednesday.
* Amid reports of wheat stocks hitting multi-year low, the food ministry today 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.
* Wheat prices in India surged despite an export ban imposed in May by the world’s second-largest grain producer amid a sudden drop in production.
* The market price is well above the government’s minimum support price of 2,015 rupees per 100 kg for the current season.
* In Kota, Rajasthan, prices of wheat were flat, and arrivals were pegged at 10,000 bags, up 2,000 bags from the previous trading day, said local trader Aniket Mehta.
* Prices of MAIZE were stable in Purnea, Bihar, as there is not much change in demand amid steady supply, local trader Kanhaiya Rastogi said. Arrivals were steady at 7,500 bags (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. Corn prices have surged in the past months, driven by high demand, increased exports and some damage to the crop due to heavy post-monsoon rains.
* Prices of maize in Davanagere, Karnataka, were unchanged and arrivals stayed at 1,500 bags today, said Shiva Kumar, a local trader.
* Prices of BASMATI 1121 RICE were steady, traders said.
End
Edited by Aditya Sakorkar
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