Overview of commodity prices
Commodity markets in Bengaluru on May 3 exhibited a variety of trends across key agricultural products, showcasing both seasonal supply factors and overall market mood. Traders noted moderate activity levels, with price changes influenced by procurement schedules, local demand, and arrivals from other states.
Wheat prices remained consistent, bolstered by steady demand from milling companies and adequate domestic inventories. Rice varieties experienced slight variations, as premium basmati maintained its price due to ongoing export demand, while local types demonstrated limited retail movement.
Prices for jaggery rose slightly, due to decreased crushing activities in sugar mills and a tightening supply situation. The coriander and turmeric markets saw mild increases, stemming from reduced arrivals from growing areas and heightened purchasing by bulk buyers.
Red chili sustained its upward trend, supported by significant demand from spice processors and restricted fresh supply. Onion and potato prices stayed stable, helped by consistent consumer needs and managed deliveries from cold storage facilities.
Tamarind and garlic faced moderate price adjustments, primarily due to an increase in availability and a relaxation of previous supply issues. The overall mood in the Bengaluru commodity market remained cautiously hopeful, with traders keeping a close eye on monsoon forecasts and procurement guidelines.
Itemized price details
- Rice: Premium basmati rice was priced at ₹110/kg, maintaining its former rate due to ongoing export interest. Sona Masoori was listed at ₹62/kg, while Ponni rice was priced at ₹68/kg. Local types such as IR-64 were available at ₹54/kg, showcasing steady retail activity without significant price movement.
- Wheat: Wheat prices remained steady at ₹28/kg, backed by stable domestic demand and sufficient stock from the recent procurement phase. Flour millers continued purchasing consistent amounts, keeping the market stable.
- Jaggery: Gur (jaggery) prices increased slightly to ₹48/kg, a ₹1 rise from the last week. This uptick is linked to lower crushing rates in sugar mills and a tightening supply in wholesale markets.
- Coriander: Whole coriander seeds were priced at ₹140/kg, reflecting a ₹3/kg rise. Decreased arrivals from Rajasthan and Gujarat contributed to this surge, along with heightened demand from spice producers.
- Red Chili: Guntur red chili retained its strong performance, trading at ₹260/kg, up ₹5 from the previous week. Limited fresh arrivals and strong demand from spice processors continued to propel the rise.
- Turmeric: Erode turmeric was quoted at ₹145/kg, a ₹2/kg rise driven by diminished stocks and active purchasing from Ayurvedic product manufacturers and exporters.
- Potatoes: Prices remained stable at ₹22/kg, supported by steady retail demand and controlled releases from cold storage facilities. Traders reported moderate shipments from Uttar Pradesh and West Bengal.
- Onions: The wholesale price of onions was around ₹18/kg, with no major changes. Adequate supply from Maharashtra and Karnataka kept prices stabilized.
- Tamarind: Tamarind prices adjusted slightly to ₹95/kg, down ₹2 from the previous session. Increased availability from Andhra Pradesh and Tamil Nadu led to this drop.
- Garlic: Garlic was priced at ₹210/kg, reflecting a ₹4/kg decrease. This price adjustment resulted from improved arrivals from Madhya Pradesh and Rajasthan, alleviating earlier supply tightness.
Note: All prices are indicative wholesale rates from Bengaluru’s major commodity mandis as of May 3 and are subject to daily fluctuations based on market dynamics.