Agri Business

Lukewarm demand pulls wheat lower

| Updated on: Mar 15, 2011
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Lukewarm demand in the domestic market has brought down wheat prices by Rs 10-20 a quintal in the last two days. Dara wheat prices ruled at Rs 1,225-1,235 a quintal against the levels of Rs 1,240-1,245 a quintal last weekend. For the finer quality, it was around Rs 1,240 a quintal. Mill delivery was quoted at Rs 1,225-1,235, while it traded at Rs 1,245-1,250 a quintal in the retail market on Tuesday.

Around 18 tonnes of dara variety arrived from Uttar Pradesh. Following the stable demand and supply, prices of Desi wheat continued to rule flat. Around 15 tonnes of Desi wheat arrived at the Karnal grain market terminal and ruled at Rs 2,350-2,400 a quintal.

There is not much buying in the market as traders await the new crop. It is expected to arrive in the market from the first week of April, said Mr Mohan Lal, GG Agro Foods. As the harvesting is likely to start, tenders have been called by the Haryana administration to manage all the procurement, labour and transportation activities for the rabi and kharif season 2011-2012.

Flour Prices

With a downtrend in wheat prices, flour dropped by Rs 20 and ruled at Rs 1,220 for a 90-kg bag against the levels of Rs 1,240 quoted last weekend. Sluggish domestic demand pulled the prices down, said Mr Mohan Lal. Branded flour such as Lal quila was at Rs 150 for a 10-kg bag while Ashirwad and Rajdhani were quoted at Rs 210 and Rs 190 for a 10-kg bag, respectively. On the other hand, some buying lifted Chokar prices by Rs 20 from their previous levels and it was quoted at Rs 550 for a 49-kg bag.

Published on March 15, 2011

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