Commodities

Wheat rules steady on demand-supply balance

Our Correspondent Karnal | Updated on May 17, 2011

wheat

Wheat market continued to witness a steady trend and prices of dara wheat ruled firm.

Mill delivery was at Rs 1,190-1,200 a quintal, while it traded at Rs 1,210 at retail market on Tuesday.

Around 600 tonnes of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills.

Demand matched supply. Market may continue to rule around current levels for next few days, said Mr Subhash Chander, a wheat trader.

On the other hand, in desi wheat varieties, except Dabang variety almost every variety rose from their previous quoted levels.

“Domestic demand of desi wheat is good and prices may continue to witness an uptrend,” said Mr Chander.

Around 150 tonnes of varieties of desi wheat arrived from Madhya Pradesh.

Prices of Tohfa variety increased by Rs 30 and ruled at 2,200 a quintal, Bhojan King witnessed the major uptrend, rose by 80 and quoted at Rs2,150, Lal Quila rose by 20 and was at Rs 2,050, Dabang dropped by 50 and ruled at Rs 2,000, Parivar increased by 10 and ruled at Rs 2,050, while after witnessing a drop last weekend Nokia variety managed to maintain its previous levels and traded at Rs 2,050 a quintal.

Despite a steady trend in wheat, some demand lifted flour price, which rose by Rs 15 and was quoted at Rs 1,200 for a 90-kg bag. Chokar price rose marginally by Rs 5 and was quoted at Rs 570 for a 49-kg bag.

Published on May 17, 2011

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