Financial Daily from THE HINDU group of publications
Thursday, Aug 26, 2004
Financial Daily from THE HINDU group of publications Thursday, Aug 26, 2004 |
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Agri-Biz & Commodities
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Foods & Food Processing Logistics - Roadways Maida up as truckers' strike hits supply Dhimant Bhatt
Mumbai , Aug. 25 MAIDA (fine wheat flour) prices in Mumbai have increased by Rs 200, or 25 per cent, to Rs 1,000-1,050 a bag (of 90 kg) from Rs 800-850 over the last few days. The hike has been attributed to reduced supply following the transport strike and rising wheat prices. "Maida supplies from upcountry centres have been affected badly due to the ongoing nationwide transport strike. Rising wheat prices also addedfuel to it," Mr Mohammed Siddiki, Secretary of The Bombay Bakers' Association, told Business Line. "Overall inflows from major centres, mainly Uttar Pradesh, Madhya Pradesh and Gujarat, have come down drastically. Daily demand of maida is roughly 10,000 bags. There is hardly any stock in the city. If the current situation continues, prices of all maida products may go up," Mr Siddiki said. Wheat prices (mill quality) in Mumbai have also increased by over Rs 100 to Rs 890-900 a quintal. According to traders, major suppliers of wheat and wheat products in Uttar Pradesh are exporting to Bangladesh and are not interested in domestic supply. "Demand for maida will increase in the next few days due to the forthcoming festival season," Mr Siddiki said. Maida or fine wheat flour is used in the preparation of bakery products such as bread, burger buns, rusk, pasta, noodles, pizza base, cake/pastries and biscuits. A joint meeting of two major organisations, the Bombay Bakers' Association and the India Bakers' Association, will be held on Saturday to discuss issues relating to maida supply and bread prices. "There is a possibility that the bread makers may rise their pav/loaf bread prices from next week. A price increase is imminent as the costs of major raw material, such as sugar, ghee and maida, have gone up," a local baker said.
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