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Lack of buying interest coupled with easy availability of stocks pulled dara wheat and flour prices marginally down on Friday.
Sluggish domestic demand and easy availability of stocks pulled wheat and flour down, said Radhey Sham, a market expert. Wheat may continue to rule around current levels and any major alteration in prices is unlikely, he said. Besides the local stocks, arrivals from the Uttar Pradesh are also putting pressure on the market, said experts.
After witnessing a steady trend earlier this week, dara wheat dropped by ₹5 to ₹1,465-70 a quintal. Around 2,500 bags of wheat arrived and stocks were directly offloaded at the mills. Mill delivery was at ₹1,465 while delivery at the chakki was at ₹1,470.
An uptrend was witnessed on the NCDEX. June contracts moved up by ₹1 and traded at ₹1,543 with an open interest of 11,930 lots. July contracts moved up by ₹5 and traded at ₹1,575 a quintal with an open interest of 6,250 lots.
Flour too dropped by ₹5 and sold at ₹1,720. On the other hand, Chokar was unchanged at ₹1,350 a quintal.
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