Commodities

Wheat prices fall on low buying

Our Correspondent Karnal | Updated on August 09, 2011

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Dara wheat prices continued to tumble on low buying in the market, while desi wheat managed to maintain their previous levels on Tuesday.

After ruling below minimum support price last weekend, dara eased further by Rs 15 and settled at Rs 1,090 a quintal.

Around 500 quintals of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills. Mill delivery was at Rs 1,090-1,095, while it traded at Rs 1,100 a quintal at the retail market.

Mr Subhash Chander, a wheat trader, told Business Line, that bulk buyers are out of the market at present because of uncertain weather. Only the small atta chakkies are buying, while big mills are using old stocks, he added.

Dara has dropped by Rs 45 over the last one week. At present, the market is at its lowest level in the last 2 years and wheat is ruling at around Rs 1,100, against the levels of Rs 1,150 of same corresponding period last year.

On the other hand, desi wheat varieties remained almost unchanged after witnessing an uptrend last week. Tohfa variety was quoted at Rs 2,140 a quintal, Maruti sold at Rs1,800 , Lal Quila at Rs 1,950-2,000, while Kangan was sold at Rs 2,000 .

Flour Prices

Flour prices continued to rule flat despite a downtrend in wheat and was quoted at Rs 1,160 for a 90kg bag. Flour mills have cut back the production to maintain the prices. On the other hand, Chokar prices decreased by Rs 5-10 and sold at Rs 480-485 for a 49-kg bag.

Published on August 09, 2011

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