Dara variety wheat prices were up marginally on Tuesday due to lower arrivals.
Rates went up by Rs 5 a quintal, despite a decline in demand for flour. Prices were quoted at Rs 1,200-1,210 a quintal.
Around 35 tonnes of the dara variety arrived from Uttar Pradesh. Stocks were directly offloaded at the mills. Mill delivery rates were Rs 1,200-1,205 a quintal, while delivery at chakki (flour mills) was Rs 1,210 a quintal.
Mr Sewa Ram, a wheat trader, said that a drastic decline in demand for flour kept prices subdued. The decline was as anticipated, since the market had seen an unexpected rally over the last 10 days, he said. Dara prices moved up only marginally as arrivals from Uttar Pradesh were low, said Mr Sewa Ram.On the other hand, prices of desi wheat varieties remained range-bound due to lack of trading in the market. The Tohfa variety ruled at Rs 2,230 a quintal, Bhojan King was quoted at Rs 2,110, while the Nokia variety traded at 2,060 a quintal.
According to experts, wheat futures are likely to rise this week, too, on improved demand and low supply in the spot market.
On the National Commodity and Derivatives Exchange, wheat for July delivery was up by a rupee to Rs 1,188 a quintal. It had touched a high of Rs 1,194 earlier on Tuesday. Contracts for August were up by Re 1 to Rs 1,212 a quintal.
Reduced off-take reduced flour prices by Rs 40. They were quoting at Rs 1,200 for a 90-kg bag. After ruling firm for almost 10 days, Chokar prices were down by Rs 30 due to reduced demand. They were being sold at Rs 610-620 for a 49-kg bag.