Commodities

Higher arrivals pound desi wheat

Our Correspondent Karnal | Updated on May 12, 2011

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Prices of dara variety wheat remained unchanged, while higher arrivals pulled the prices of desi wheat down at the Karnal grain market terminal on Thursday.

Arrivals of new wheat continued to drop — around 700 tonnes arrived from Uttar Pradesh and ruled at Rs 1,170 a quintal.

In private buying, prices rose marginally by Rs 20 and ruled between Rs 1,250-1,275 a quintal.

Mr Tara Chand Sharma, a wheat trader, told Business Line that the quality of the wheat arriving from Uttar Pradesh is better than the local produce and that led the prices up in private buying.

Mill delivery of the old wheat was at Rs 1,190-1,200 a quintal, while it traded at Rs 1,210-1,215 at the retail market.

After witnessing an uptrend at the beginning of this week, surging arrivals pulled the prices of desi wheat down by Rs 30-50 a quintal. Around 170 tonnes of different varieties of desi wheat arrived from Madhya Pradesh.

Prices of Tohfa variety dropped by Rs 50 and ruled at Rs 2,170 a quintal while the Nokia variety down Rs 40 and traded at 2,050 a quintal.

Despite a steady trend in wheat, flour prices dropped marginally and quoted at Rs 1,185-1,190 for a 90 kg bag. Chokar prices ruled flat and quoted at Rs 565 for a 49-kg bag.

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Published on May 12, 2011
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