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:




Price per 100/kg













Pusa 1121 basmati paddyAmritsar






* 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


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