Commodities

Wheat softer amid slow demand, ample stocks

Our Correspondent Karnal | Updated on June 23, 2011

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Sluggish domestic demand against ample stocks led to marginal drop of Rs 5 a quintal in dara wheat prices, while desi wheat prices remained unchanged on account of low trading on Thursday.

Just around 120 tonnes of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills. Mill delivery was at Rs 1,170 a quintal, while the variety traded at Rs 1,175 in the retail market.

Mr Sewa Ram, a wheat trader, told Business Line that wheat prices were going down following a continuous decline in the demand for flour. Traders have adequate stocks but domestic demand is low. The recent rainfall in the region has also affected demand, he added.

On the other hand, after witnessing a decline earlier this week, desi wheat varieties witnessed a steady trend despite low arrivals. The demand for desi wheat is very low at present and because of this arrivals have dropped sharply, said Mr Ram.

A stock of just around 600 quintals of different varieties of desi wheat have arrived in the market. The tohfa variety quoted at 2,250 a quintal; Maruti ruled flat at Rs 1,850; Lal Quila was at Rs 1,950; while the A-1 variety ruled at Rs 2,100 a quintal.

Flour Prices

Flour prices continued to tumble dropping by Rs 10 and were quoted at Rs 1,200 for a 90-kg bag. Prices have dropped by Rs 35 for a 90-kg bag over the last four days. On the other hand, Chokar prices remained unchanged and ruled at Rs 580 for a 49-kg bag.

Published on June 23, 2011

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