Commodities

Wheat rules firm on steady demand, less inflow

Our Correspondent | Updated on August 14, 2012 Published on August 14, 2012

wheat.jpg

Lower arrivals, coupled with a steady domestic demand, kept wheat prices firm on Tuesday.

After moving higher over the last few days, the dara variety is ruling firm ever since last week-end, said Sewa Ram, a wheat trader. Flour mills are depending on the arrivals from Uttar Pradesh as mills are not getting stocks from the Food Corporation of India, he added. Prices may increase marginally by Rs 10-15 a quintal in upcoming days, said market experts.

In the physical market, dara prices quoted between Rs 1,290 and Rs 1,300 a quintal. Around 55 tonnes of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills. Mill delivery was at Rs 1,290-1,295 while delivery at the chakki was at Rs 1,300 .

On the other hand, low stocks and sluggish demand kept desi wheat varieties unchanged. Tohfa sold at Rs 1,980; Bhojan King at Rs 2,070, while the Nokia variety was traded at Rs 2,000.

On the National Commodity and Derivatives Exchange, wheat for August delivery increased by Rs 12 to Rs 1,397 a quintal. September contracts went up by Re 1 to Rs 1,371. Spot wheat prices on the exchange ruled at Rs 1,355.

Flour Prices

Despite a steady trend in wheat, flour went up by Rs 5 and quoted at Rs 1,305 for a 90-kg bag. On the other hand, Chokar remained unchanged on account of slack demand and sold at Rs 620 for a 49-kg bag.

Published on August 14, 2012

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