Commodities

Wheat tumbles further on poor offtake

Our Correspondent Karnal | Updated on March 17, 2011

WHEAT





Wheat prices continued to tumble on account of low buying. Prices of Dara wheat dropped by Rs 5 to Rs 1,220-1,230 a quintal, against the levels of Rs 1,225-1,235 a quintal quoted at the beginning of this week. For the finer quality, it was around Rs 1,235 a quintal. Mill delivery was at Rs 1,220-1,230, while it traded at Rs 1,240 a quintal in the retail market on Thursday.

Just around 200 quintals of Dara variety arrived from Uttar Pradesh, and about 150 quintals was offloaded by the local stockists. On the other hand, prices of desi wheat varieties continued to rule flat. Around 200 quintals of desi wheat arrived at the Karnal grain market terminal. Tohfa variety ruled at Rs 2,400 a quintal, Doodh Malai at Rs 2,350 and Aaj Tak at Rs 2,400 a quintal.

Sluggish domestic demand has brought the prices of Dara variety down by Rs 15-25 a quintal in this week, said Mr Sewa Ram, a wheat trader. Stock meant for those below the poverty line is also coming for sale, which is also pressing the local market, he added.

Following the drop in wheat prices, flour prices decreased by Rs 10-20 to Rs 1,200-1,210 for a 90-kg bag. Poor domestic demand against ample stocks led the prices down, said Mr Mohan Lal, G.G. Agro foods. Among branded flours, Lal Quila was at Rs 150, Ashirwad at Rs 210 and Rajdhani at Rs 190 for a 10 kg bag. Chokar prices managed to maintain their previous levels, and quoted Rs 550 for a 49-kg bag.

Published on March 17, 2011

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