Dara wheat prices traded around Rs1,285 a quintal, marginally down from the levels of 1,290 quoted last weekend, on Tuesday. For the finer quality it was around Rs 1,300 a quintal while the seed wheat variety witnessed some correction and was quoted around Rs1,320 against the levels of Rs1,330 touched last week.

Mr Sewa Ram, a wheat trader, told Business Line that sluggish demand pulled the prices down. Expecting fall in dara prices soon, traders are offloading their stocks in the market. Following that, around 300 quintals stock of seed variety and around 200 quintals of dara variety was offloaded by the local stockiest, on Tuesday. It’s unlikely to see any uptrend in the market from here, said Mr Ram.

Uttar Pradesh farmers are still heading towards Delhi market as they are getting extra margins of Rs 40-50 a quintal. The Dara variety had witnessed the levels of Rs1,350, which are the highest levels of this season, at the Karnal grain market in January.

With no arrivals from Madhya Pradesh, Desi wheat is out of stock at present, said Mr Ram. The arrivals of new wheat may start by the end of February, he added.

Future contracts, till February15, has been signed between the levels of Rs1,270-1,280 a quintal.

Flour prices

Flour prices continued to witness a downtrend dropping marginally by Rs 5 for a 90-kg bag and quoted at Rs 1,305. Chokar prices, also witnessed some correction, dropped by Rs 5, ruling at Rs 610 for a 49-kg bag.

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