Commodities

Wheat rules flat on lack of buying

Our Correspondent Karnal | Updated on June 21, 2011

BL22_COM2_WHEAT



Despite low arrivals, dara wheat prices remained unchanged, while desi wheat witnessed a mixed trend on account of low buying on Tuesday.

Following sluggish demand, arrivals have dropped. About 100 tonnes of dara variety only arrived from Uttar Pradesh and stocks were directly offloaded at the mills. Mill delivery was at Rs 1,175, while it traded at Rs 1,180 at the retail market.

To maintain prices, traders are placing orders based on the demand, said Mr Sewa Ram, a wheat trader. There is no bulk buying in the market, demand is very low and the market may continue to rule around current levels for the next few days, he added. Traders expect the market to witness an uptrend in July.

Desi wheat varieties, on the other hand, witnessed a mixed trend on account of low arrivals and sluggish domestic demand. Around 800 quintals of different varieties of desi wheat arrived from Madhya Pradesh.

Tohfa variety remained unchanged and quoted at Rs 2,250 a quintal. Maruti dropped by Rs 40 and ruled at Rs 1,850, Lal Quila went up by Rs 15 and was at Rs 1,950, while A-1 variety dropped further, decreasing by Rs 50 and was at Rs 2,100 a quintal.

Flour Prices

Flour prices continued to witness a downtrend, decreasing by Rs 25 to quote at Rs 1,210 for a 90 kg bag against Rs 1,235 last weekend. Chokar, however, witnessed a steady trend and was at Rs 580 for a 49-kg bag.

Published on June 21, 2011

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