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Poor demand dragged prices of dara wheat, used by flour mills, down, while desi wheat remained unchanged, on Tuesday.
After witnessing a good uptrend last week, dara wheat eased by Rs 10 and settled at Rs 1,120-1,125 a quintal.
Mr Sewa Ram, a wheat trader, told Business Line that traders were expecting dara to continue its uptrend, but due to a sharp decline in the sales of flour, small atta chakki owners bought only limited quantities and that led to the prices dropping.
Earlier, traders were expecting the market to touch around Rs 1,180 in the first week of August, but it is unlikely to see any major uptrend and may continue to rule around current levels for the next few days, he added
Around 500 quintals of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills. Mill delivery was at Rs 1,120-1,125 while it traded at Rs1,130 a quintal in the retail market.
On the other hand, desi wheat varieties remained almost unchanged on account of limited trading. Tohfa variety quoted at Rs 2,125 a quintal, Maruti at Rs 1,780, Lal Quila at Rs 2,000, and Kangan at Rs 2,010.
Flour Prices
With not much buying taking place in the market, flour prices dropped by Rs 20 after witnessing a good uptrend last week and quoted at Rs 1,160 for a 90-kg bag. Similarly, chokar prices went down by Rs 15 and sold at Rs 480 for a 49-kg bag.
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