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Mills’ buying boosts dara wheat

Our Correspondent
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Buying pushed up dara wheat prices, while desi wheat varieties remained stable amid slack buying on Friday.

Fall in supply against the frantic buying by the flour mills pushed dara prices up, said Satish Kumar, a wheat trader. The market may continue to rule around current levels for the next few days, he added.

In the physical market, dara prices increased by Rs 10 and quoted between Rs 1,300-1,310 a quintal. Around 50 tonnes of dara variety arrived from Uttar Pradesh and were directly offloaded at the mills. Mill delivery was at Rs 1,300-1,305 a quintal while delivery at the chakki was Rs 1,310 a quintal.

On the other hand, desi wheat was stable on account of low stocks. Tohfa sold at Rs 1,980 a quintal, Bhojan King quoted at Rs 2,070, while the Nokia variety traded at 2,000 a quintal.

On the National Commodity and Derivatives Exchange, wheat for September delivery increased by Rs 29 to Rs 1,422 a quintal; it had touched a high at Rs 1,425 a quintal earlier on Friday. October contracts went up by Rs 24 to Rs 1,444 a quintal. Spot wheat prices on the exchange ruled at Rs 1,362.5 a quintal.

(This article was published in the Business Line print edition dated August 18, 2012)
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