Wheat remains flat on uncertain arrivals

Nitish Sharma Karnal | Updated on April 05, 2011


Following the uncertainty that prevailed over the arrivals of new wheat in the market, trading was low and prices of dara wheat continued to rule flat.

Mr Subhash Chander, a wheat trader, told Business Line that traders have adopted the wait and watch policy. “Though yellow rust and rain have affected the crop we are still expecting good yield,” he added.

Small Atta Chakki owners are buying in limited quantity while following a sharp decline in the sales of flour, demand from the flour mills have dropped, said Mr Chander.

Prices of dara wheat remained unchanged since March 29 while the prices of desi wheat continued to witness the downtrend.

Around 250 quintals of Dara, old wheat, variety arrived from the Uttar Pradesh but there were no buyers in the market.

Dara variety ruled at Rs 1,170-1,180 a quintal, for the finer quality it was around Rs 1,185 a quintal. Mill delivery was at around Rs 1,175-1,785 while it traded at Rs 1,180-1,190 a quintal in the retail market.

In the desi wheat varieties, Tohfa dropped further by Rs 30 and ruled at Rs 2,300-2,320 a quintal, Doodh Malai was quoted around Rs 2,300 a quintal while the Aaj Tak traded at Rs 2,310 a quintal. The demand of desi wheat is sluggish at present, traders are not giving new orders and this is the old stock they are selling. After the arrivals of new desi wheat from Madhya Pradesh, prices may drop to Rs 2,100 a quintal, said market sources.

Flour Prices

Flour prices continued the downtrend, dropped by Rs 5 and quoted at Rs 1,160 for a 90-kg bag. Chokar prices ruled firm and quoted at Rs 540 for a 49-kg bag.

Published on April 05, 2011

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