Commodities

Flour mills buying drives up wheat

Our Correspondent Karnal | Updated on January 10, 2012 Published on January 10, 2012

wheat

Dara wheat remained in keen demand and prices rose further by Rs 10 a quintal on Tuesday following good buying by flour mills amid limited arrivals. Desi wheat varieties continued to rule firm on account of low stocks.

The Food Corporation of India hasn't released stocks for the below poverty line and above poverty line card holders yet and with no other stocks available in the market except the arrivals from Uttar Pradesh, prices are moving upwards, said Mr Subhash Chander, a wheat trader. Market is expected to rule firm around current levels for the next few days, he said.

In the physical market, around 72 tonnes of dara variety arrived from Uttar Pradesh and stocks were directly offloaded at the mills. Mill delivery was at Rs 1,190-1,200 a quintal, while delivery at chakki was at Rs 1,205 a quintal.

On the other hand, desi wheat varieties were quoted at their previous levels despite sluggish demand. Samrat was quoted at Rs 1,880-1,885, while Red Rose was trading at Rs 2,200 a quintal.

On the National Commodity and Derivatives Exchange, wheat for January delivery decreased by Rs 2 to Rs 1,243 a quintal. It had touched a high at Rs 1,247 a quintal earlier on Tuesday. On the MCX, wheat spot prices increased by Rs 0.50 to Rs 1,246.30 a quintal.

Flour Prices

Despite an uptrend in wheat, flour prices remained unchanged and quoted at Rs 1,200 for a 90-kg bag. Branded flour such as Lal Quila and Taj Brand ruled at Rs 152 and Rs150 for a 10-kg bag, respectively. Similarly, Chokar continued to rule flat and sold at Rs 660 for a 49-kg bag.

Published on January 10, 2012
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