Wheat prices fall, while rice prices surge in wholesale market
   Date :06-Jul-2024

Wheat prices fall
Business Reporter :
THE prices of foodgrains like wheat and rice are witnessing mixed trend these days. Since most of the bulk buying and storing of food grains in many householdshascometoanend with the start of the monsoon there is lower demand in the market. “Sluggishdemandhasaffected the wheat prices and it has dropped by 5 per cent in the wholesalemarket.Whileonthe otherhand,thericepriceshave increased by 5 to 10 per cent as the supplies are lower in the market,” said Ramesh Umate, one ofleadingwholesale grain merchants at the Kalamna market yard,while speaking toThe Hitavada.
Umathe further said that Madhya Pradesh is the major wheat supplier to Nagpur. In the beginning of the season in March the wheat prices were higher by 30 per cent, whereas and rice prices surged by 25 per cent, as compared to previous seasonasrainshaddamaged both the crops significantly.
At present, the wheat prices have cooled down because of slackness in demand. Inthewholesalemarket,rice varieties like MP Bot Sarbati low quality is being quoted at Rs 30 to Rs 32 per kg, medium quality at Rs 33 to Rs 36 per kg and best quality at Rs 40 to Rs 45 per kg. Also, Lokwan medium is available at Rs 32 to Rs 34per kg and best quality atRs 34 to Rs 38 per kg, and Tukdi at Rs 31 to Rs 35 per kg.
Similarly,ricevarietieslikeKali Mooch Chinoor medium quality is being quoted at Rs 71 to Rs 74 per kg, best quality at Rs 74 to Rs 76 per kg, HMT at Rs 45 to Rs 50 per kg. While Jai Shreeram medium is being quoted atRs 50 toRs 55 per kg, best quality at Rs 58 to Rs 61 per kg, BPT at Rs 38 to Rs 43 per kg, Surti Kolam at Rs 62 to Rs 66 per kg, Jai Prakash at Rs 80 to Rs 85 per kg, Tulsi Amrut at Rs 65 to Rs 68 per kg and Basmati at Rs 90 to Rs 128 per kg, Umathe said Another grain merchant, on a conditionof anonymity, said that the prices of foodgrains couldincrease ifthere are lower supplies due to floods inthe comingdays.Itisexpectedthat thedemandwouldpick-upand pricesmay rise fromthese levels during the festivals like Mahalaxmi, Ganpati, and Diwali.Onadailyaverage,there are about 8 to 10 trucks loaded with wheat and there is similarly number of trucks filled with rice coming to wholesale market.