The wheat market witnessed a mixed trend on Friday. Flour and Dara wheat prices increased on domestic demand coupled with low availability, while desi wheat varieties continued to rule flat amidst slack buying.
Mr Sewa Ram, a wheat trader, told Business Line that increased off-take by flour mills to meet domestic demand, mainly pushed Dara prices up. Low stocks and increased demand pushed flour prices up by Rs 25-30 for a 90-kg bag over the last two days, he added.
The Dara variety went up by Rs 30 a quintal and quoted at Rs 1,220-1,230 a quintal.
In the physical market, only 30 tonnes of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills. Mill delivery was at Rs 1,220-1,125 a quintal while delivery at the chakki was at Rs 1,230 a quintal.
On the other hand, desi wheat varieties ruled flat, Tohfa sold at Rs 2,210 a quintal, Bhojan King quoted at Rs 2,100, while the Nokia variety traded at 2,020 a quintal. Demand for desi wheat has been low this year in the region, said Mr Sewa Ram.
Wheat spot and futures remained supportive on account of low arrivals and buying interest. On the National Commodity and Derivatives Exchange, wheat for August delivery increased by Rs 20, to Rs 1,431 a quintal, it had touched a high at Rs 1,443 earlier on Friday. Spot prices on the MCX increased by Rs 9 to Rs 1,314.4 a quintal.
With an uptrend in wheat, flour went up by Rs 25-30 and quoted at Rs 1,215-1,220 for a 90-kg bag. Chokar too went up by Rs 15 and sold at Rs 620-635 for a 49-kg bag.