Flour prices increased by Rs 10 for a 90-kg bag following demand on Tuesday, while the dara wheat variety ruled firm. After witnessing an uptrend over the weekend, the dara variety sold at Rs 1,200-1,205 a quintal.
The rise in prices is in line with expectations as demand for flour has increased in the region, said Mr Satish Kumar, a wheat trader. Flour prices have increased by Rs 40 a bag over the last four days, he said. Domestic demand for flour is keeping wheat firm and traders expect that prices will rule around current levels for the next few days, said Mr Kumar.
Around 40 tonnes of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills. Mill delivery was at Rs 1,200 a quintal, while delivery at chakki was at Rs 1,205 a quintal.
Desi wheat varieties were also firm. The Tohfa variety ruled at Rs 2,235 a quintal, Bhojan King was quoted at Rs 2,120 while the Nokia variety traded at 2,070 a quintal.
Wheat futures are likely to recover this week on buying by traders, following an improvement in wheat prices overseas, say market experts. On the National Commodity and Derivatives Exchange, wheat for July delivery increased by Rs 3 to Rs 1,154 a quintal, after touching a high of Rs 1,157 earlier. Spot prices on the MCX went up marginally to Rs 1,222.10 a quintal.Following domestic demand, flour went up Rs 10 at Rs 1,240 for a 90-kg bag. On the other hand, chokar remained unchanged at Rs 640-650 for a 49-kg bag.