Commodities

Wheat arrivals, buying gathering pace

Our Correspondent Karnal | Updated on April 13, 2011

WHEAT





With the weather turning favourable, wheat arrivals at the Karnal grain market terminal have increased and the procurement could be in full swing by the end of this week.

Around 2,000 tonnes arrived and ruled at Rs 1,120 a quintal, on Wednesday.

Only Government-owned procurement agencies are procuring while the private companies and other bulk buyers are still keeping out of the market, said Mr Sewa Singh Arya, State secretary, Bhartiya Kissan Union. The high moisture level in the crop is a prime reason behind the low buying, he added. Though few private flour mill companies arrived and did some buying last weekend but now they are not in the market. As the mercury rises, arrivals will increase and the quality of the wheat will be very good, said Mr Arya.

Despite unstable weather conditions and delay in harvesting, wheat production has increased this year. Production has increased to 20-22 quintals an acre against 16-18 quintals an acre last year. But the story of good production is not same everywhere, yield of the fields situated at the Yamuna River Belt has witnessed a major fall because the crop was badly affected by Yellow Rust. The production in those areas was recorded at 5-10 quintals per acre.

On the other hand, desi wheat varieties were limited in the market and traders are not showing interest in buying at present. Tohfa variety was at around Rs 2,300 a quintal, Doodh Malai was quoted around Rs 2,300 a quintal while the Nano variety traded at Rs 2,100 a quintal. Flour prices ruled flat at Rs 1,130-1,135 for a 90-kg bag. Branded flour such as Om Bhog and Lal Quila at Rs 140 and 145 for a 10 kg bag, respectively. Chokar ruled at Rs 520-530 for a 49-kg bag.

Published on April 13, 2011

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