Informist, Monday, Oct 9, 2023
By J Navya Sruthi
MUMBAI – Prices of wheat rose in Kota, Rajasthan, today due to lower supply of the commodity and expectations of a rise in demand for the upcoming festival season. Prices of maize were flat in key markets amid new arrivals of the crop.
WHEAT prices in Kota, Rajasthan, were up 2,400-2,425 rupees from 2,350-2,400 rupees on Friday, Aniket Mehta, a local trader, said. Arrivals were at 8,000-9,000 bags (1 bag = 60 kg), nearly unchanged from the previous day, Mehta said.
The trader added that arrivals increased on Monday after the weekend. "I have a very positive outlook about wheat prices, because of supply-side issues, this year. I expect the prices to shoot (up) in the future due to the festival season," Mehta said.
In Davanagere, Karnataka, prices of MAIZE with 18% moisture-content were flat at 2,100 rupees per 100 kg amid new arrivals of the crop in the market, Shiva Kumar, a local trader said. Arrivals were up at 2,500 bags (1 bag = 60 kg) from 1,300 bags on Friday, Kumar added. Maize with above 30% moisture content was sold at 1,600 rupees per 100 kg, 100 rupees lower than the previous day.
"The acceptable moisture-content in maize is about 14%, which is safe," Kumar said.
Arrivals have increased, while the demand has been steady. Hence, prices of maize are expected to be in the same range, Kumar said.
In Purnea, Bihar, maize prices were also largely steady at 2,040-2,070 rupees per 100 kg, Kanhaiya Rastogi, a local trader, said. Arrivals increased to 15,000 bags (1 bag = 60 kg) from 6,000 bags on Friday, Rastogi added.
The increase in arrivals is due to sunny weather, and on Friday, the arrivals were low at 6,000 bags due to rain, he added.
As of Sep 22, maize acreage in India was 8.6 mln ha, up 3.2% from 8.3 mln ha in the corresponding period last year.
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 | 2,400-2,425 | 50-25 |
Maize | Davanagere | 1,600-2,100 | (-)100 |
Maize | Purnea | 2,040-2,070 | (-)10 |
End
Edited by Manisha Baxla
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