Agri Business

Lower arrivals boost wheat

Our Correspondent Karnal | Updated on January 24, 2011 Published on January 24, 2011

BL12_COM2_WHEAT

Low arrivals of Dara variety lifted wheat prices by Rs 30-50 a quintal and the market touched the highest levels of the season on Tuesday.

Prices of dara variety ruled around Rs 1,280-1,300 a quintal against Rs 1,250 a quintal quoted last weekend. The price at retail outlets ruled at around Rs 1,310 a quintal, and for finer quality it was around Rs 1,320 a quintal.

Mr Sewa Ram, a wheat trader, told Business Line that because of low arrivals from Uttar Pradesh the market witnessed a good rally. Buying options are available as the FCI's stock at Rs 1,240 a quintal and 4 per cent VAT on top of it. But due to quality issues buyers are not showing interest, he added.

Because of low availability of stocks in Delhi, dara prices were ruling around Rs 1,365-1,390 a quintal, said Mr Sewa Ram. These are the highest levels of the season. Due to low arrivals from Uttar Pradesh, Delhi traders are now demanding the stocks from Haryana, he added.

Around 200 quintals of Dara variety were offloaded at the flour mills in Karnal on Tuesday. On the other hand, desi wheat witnessed some correction on account of low trading. Bhojan King was quoted at Rs 2,350 a quintal against Rs 2,400 quoted last weekend, Aaj Tak at Rs 2,300 and Nokia at Rs 2,350.

Flour prices

After a good rally in wheat prices, flour prices roared up and touched the highest levels. Flour prices rose by Rs 40 for a 90-kg bag and were quoted at Rs 1,310 for a 90-kg bag against Rs 1,265-1,270 quoted last weekend. Chokar prices rose marginally by Rs 5 and ruled at Rs 605 for a 49-kg bag.

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Published on January 24, 2011
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