Lower arrivals drive Dara wheat to 2-year high

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Our Correspondent

Karnal, Jan. 18

Dara wheat prices soared on account of low availability of wheat stocks and touched a two-year high.

On Tuesday, prices of dara variety quoted at Rs 1,320-1,330 a quintal against Rs 1,280 a quintal last weekend. The price at retail outlets ruled at Rs 1,335-1,340 a quintal, and for finer quality it was around Rs 1,350 a quintal. The seed variety ruled at Rs 1,350 a quintal.

Mr Subhash Chander, a wheat trader, told Business Line that the wheat market has seen a rally of Rs 40-50 a quintal since the beginning of this week. After getting good margins for their stocks in Delhi, Uttar Pradesh farmers are heading towards the Delhi market than the Karnal mandi.

This, Mr Chander says, is the prime reason for the low arrivals now.

Local stockists are gaining the maximum advantage and reaping hefty margins by offloading their stocks at higher rates, said Mr Chander.

On the other hand, desi wheat witnessed a steady trend and maintained its previous levels. Prices of Bhojan King quoted at Rs 2,400 a quintal, Aaj Tak at Rs 2,320 and Nokia at Rs 2,375.

Flour prices

With a good uptrend in wheat, flour prices rose marginally, by Rs 10-15 for a 90-kg bag and quoted at Rs 1,325-1,330.

Chokar prices witnessed some correction and dropped by Rs 25 and ruled at Rs 610 for a 49-kg bag against Rs 635 last weekend. Some availability of green fodder pulled the chokar prices down.

(This article was published in the Business Line print edition dated January 19, 2011)
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