Wheat prices falls on increased supply; rice basmati remains up

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SummaryWheat prices declined by Rs 50 per quintal on the wholesale grains market today.

Wheat prices declined by Rs 50 per quintal on the wholesale grains market today on increased supplies against reduced offtake by flour mills and other bulk consuming industries.

However, basmati remained higher on increased demand from stockists and retailers.

Traders said increased supplies against reduced offtake by flour mills and other bulk consumers at prevailing higher levels mainly kept pressure on wheat prices.

Reports that Food Corporation of India said it has asked state governments to release nearly 2.7 million tonnes of wheat to bulk consumers, such as flour mills and biscuit makers, to control retail price also influenced wheat prices, they said.

Pick up in demand from stockists and retailers kept rice basmati prices higher, they added.

In the national capital, Wheat dara (for mills) fell by Rs 50 to Rs 1,625-1,630 per quintal. Atta chakki delivery followed suit and traded lower by Rs 55 to Rs 1,630-1,635 per 90 kg.

On the other hand, rice basmati common and Pusa-1121 strengthened by Rs 200 each to Rs 5,700-5,800 and Rs 5,300-6,100 per quintal respectively.

The following are today's quotations per quintal:

Wheat MP (deshi) 2,050-2,250, Wheat dara (for mills) 1,625-1,630, Chakki atta (delivery) 1,630-1,635, Atta Rajdhani (10 kg) 210, Shakti bhog (10 kg) 210, Roller flour mill 860-880 (50 kg), Maida 920-940 (50 kg) and Sooji 1,030-1,060 (50kg).

Basmati rice (Lal Quila) 9,500, Shri Lal Mahal 9,500, Super Basmati Rice, 9,000, Basmati common new 5,700-5,800, Rice Pusa-(1121) new 5,300-6,100, Permal raw 2,000-2100, Permal wand 2,250-2,300, Sela 2,500-2,700 and Rice IR-8 1,550-1,650, Bajra 1,200-1,210, Jowar yellow 1,275-1,300,

white 2,100-2,300, Maize 1,395-1,405, Barley 1,400-1,415, Rajasthan 1,080-1,090.

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