Agri Business

Rice, wheat prices down on lack of buying

Our Correspondent Karnal | Updated on March 12, 2018 Published on March 24, 2013

Traders expect that the market may continue to witness low trading even in the next few days and may witness some good buying in April.

After ruling firm in the first half of the week, rice, wheat and poultry items came down due to lack of buying in the last three days.

Rice

Lukewarm trading pulled aromatic and non-basmati rice marginally down by Rs 20-100 a quintal. The market witnessed only need-based buying last week.

Due to year-end, buyers are placing smaller orders. Traders expect that the market may continue to witness low trading even in the next few days and may witness some good buying in April.

Wheat

In the physical market, dara wheat and flour prices fell up to Rs 20-25 a quintal on lack of buying interest and ample stocks. Dara wheat ruled at Rs 1,520-1,525 a quintal, while flour ruled at Rs 1,750.

Following fear of drop in prices in the near future, demand in the local market is quite low.

On the National Commodity and Derivatives Exchange, wheat contracts from April to June ended up with a negative note on speculation that a rebound in global output will reduce demand.

Similarly, spot market remained bearish and the prices fell Rs 65.

Poultry

After witnessing some recovery on Wednesday, egg prices decreased in the last couple of days, while broiler and chick prices continued to witness downtrend on account of reduced off-take and higher supplies.

Egg prices decreased by 28 paise and settled at Rs 2.42. Broiler moved down by Rs 5 and quoted at Rs 72-75 a kg, while chick sold at Rs 15-16, down by Rs 1.

According to trade experts, poultry items may witness some recovery next week.

Published on March 24, 2013
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