Monday, Jun 1, 2020

By Sampad Nandy

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

* 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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