Wheat falls below minimum support price

Our Correspondent Karnal | Updated on March 12, 2018


Slack demand pulled wheat prices below Rs 1,120 a quintal, the minimum support price, on Thursday. Dara variety dropped further by Rs 30 to Rs 1,100 a quintal.

The support price for this season was Rs 1,120 a quintal and the Government also gave a bonus of Rs 50. Dara variety has dropped by Rs 50 a quintal during this week.

There are harldy any buyers even though prices have fallen below the support price, said a wheat trader, Mr Subhash Chander. There were no new arrivals from Uttar Pradesh.

Market sources said flour mills were buying stocks meant for below- and above-poverty-line card-holders as those were cheaper.

Prices of desi varieties, though, remained unchanged even as trading was slack. Tohfa variety sold at Rs 2,175 a quintal, Maruti at Rs 1,800 a quintal, Lal Quila at Rs 1,900 a quintal and A-1 at Rs 2,040 a quintal.

Flour Prices

Flour prices settled at Rs 1,140, shaving off Rs 10, for a 90-kg bag as buying was poor. Millers won't sell below Rs 1,140 even though there is no demand at that price, said Mr Sewa Ram. Chokar prices went down by Rs 5-10 to Rs 480-485 for a 49-kg bag.

Published on July 21, 2011

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