Back

India Grain:Firm demand aids basmati prices, maize dn on high supply

Monday, Jun 1, 2020

 

By Sampad Nandy

 

NEW DELHI – Following are the highlights from trading in grain markets today:

 

Commodity

Market

Price per 100/kg

Change

Wheat

Indore

1,830-1,860*

WheatJaipur

1,700-1,730

Maize

Purnea

1,340-1,370

(-)20-30

MaizeNizamabad

1,370-1,400

Pusa 1121 basmati paddyAmritsar

3,130-3,170

20-30
BajraJaipur

1,650-1,700

(-)50-60

 

* Prices of Pusa 1121 basmati paddy rose today due to a rise in demand from bulk buyers amid a fall in arrivals, traders said. 

  "With most restaurants likely to open now, rice millers bought more paddy in anticipation of a rise in demand from restaurants and other bulk consumers," – Aniket Mehta, a Kota-based trader.

 

* However, the rise in prices may be capped due to a likely decline in exports, especially to Iran.

 

* Maize prices, declined further in key markets of Bihar today due to a rise in arrivals. 

 

* In Purnea, arrivals were pegged at 21,000-25,000 bags (1 bag = 100 kg), against 18,000-20,000 bags on Friday, local trader Sehdev Jaiswal said.

 

* In major markets of southern India, however, maize prices remained largely steady. 

  "Prices of maize are seen falling in the coming days as demand is seen falling further."
    – Amrutlal Kataria, a Nizamabad-based trader.  

 

* On the National Commodity and Derivatives Exchange, the most-active June contract ended flat at 1,240 rupees per 100 kg. 

 

* The price of bajra in Jaipur fell sharply today due to a dip in demand from bulk buyers such as animal feed makers.  

 

* Prices of mill-quality wheat remained steady today as demand from bulk buyers offset the rise in supply, traders said. 

 

* Jaipur, wheat arrivals were pegged at 40,000-45,000 bags (1 bag = 100 kg), compared with 35,000-40,000 bags on Saturday.

 

* Wheat spot markets in Indore and Kanpur were shut today.  End

 

Edited by Maheswaran Parameswaran

 

Cogencis Tel +91 (11) 4220-1000

Send comments to feedback@cogencis.com

This copy was first published on the Cogencis WorkStation

© Cogencis Information Services Ltd. 2020. All rights reserved.

Other News

RBI Policy: Repo, reverse repo rates unch, FY22 CPI retained at 5.3%

Informist, Wednesday, Dec 8, 2021 NEW DELHI – The Reserve Bank of India's Monetary Policy Committee today unanimously voted to leave the repo rate unchanged at 4.00%. The reverse repo and the Marginal Standing Facility rates were also left unchanged at 3.35% and 4.25%, respectively. In a repeat of October, the committee also voted to retain the accommodative stance of policy by 5 votes […]

RBI Policy: FY22 CPI forecast retained at 5.3%, seen peaking Jan-Mar

Informist, Wednesday, Dec 8, 2021 NEW DELHI – The Reserve Bank of India today retained its inflation forecast for 2021-22 (Apr-Mar) at 5.3%, although it made changes to its quarterly projections. CPI inflation is now seen averaging 5.1% in Oct-Dec, up from 4.5% forecast earlier. It is then seen rising to 5.7% in Jan-Mar, before easing to 5.0% in […]

RBI Policy: To float paper on charges in payment systems in 1 month

Informist, Wednesday, Dec 8, 2021 MUMBAI – The Reserve Bank of India will release a discussion paper to cover all aspects related to charges involved in various channels of digital payments such as credit cards, prepaid payment instruments, unified payment interface, among others. The paper will be released in a month's time, according to the RBI's statement on developmental […]