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Festival season is the last hope for the wheat market as domestic demand is not picking up and prices are ruling below the minimum support price.
Despite low arrivals of dara and no arrival of desi wheat, the market continued to rule flat at previous levels. Dara remained unchanged and was quoted at Rs 1,090-1,100 a quintal while fine quality stock was sold at Rs 1,170 a quintal.
Around 40 tonnes of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills. Mill delivery was at Rs 1,100 a quintal.
After witnessing a drop earlier this week, desi wheat ruled flat. Tohfa variety quoted at Rs 2,130 a quintal, Maruti ruled at Rs 1,775 a quintal, Lal Quila was sold at Rs 1,900 while Kangan was at Rs 1,940 a quintal.
On the National Commodity and Derivatives Exchange, wheat for September delivery dropped by Rs 3.60 to Rs 1,133 a quintal after a low at Rs 1,127.8 a quintal earlier on Friday.
Flour prices continued to rule flat. Flour was sold at Rs 1,160 for a 90-kg bag. On the other hand, choker prices increased by Rs 10. It was quoted at Rs 505 for a 49-kg bag.
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