Rice basmati extends losses on supply glut

Prices of rice basmati extended losses for the third day at the wholesale grains market today following adequate stock position against low demand.
Wheat also eased due to reduced offtake by flour mills.
Marketmen said sluggish demand against adequate stock position mainly kept up pressure on rice basmati prices.
They said reduced offtake by flour mills helped wheat prices trade lower.
In the national capital, rice basmati common and Pusa 1121 variety shed another Rs 100 each to Rs 5,600-5,800 and Rs 4,500-5,700 per quintal, respectively.
Wheat dara (for mills) also declined Rs 10 to Rs 1,540-1,545 per quintal. Atta chakki delivery followed suit and weakened to Rs 1,550-1,555 from Rs 1,560-1,565 per 90 kg.

Following are today's quotations (in Rs per quintal):
Wheat MP (desi) 2,350-2,700, Wheat dara (for mills) 1,540-1,545, Chakki atta (delivery) 1,550-1,555, Atta Rajdhani 10 kg) 220, Shakti Bhog (10 kg) 220, Roller flour mill 840-850 (50 kg), Maida 890-900 (50 kg) and Sooji 1,020-1,030 (50 kg).
Basmati rice (Lal Quila) 10,400, Shri Lal Mahal 10,000, Super Basmati Rice 9,500, Basmati common new 5,600-5,800, Rice Pusa (1121) 4,500-5,700, Permal raw 1,700-1,750, Permal wand 1,900-1,925, Sela 2,300-2,400 and Rice IR-8 1,600-1,625, Bajra 1,200-1,205, Jowar yellow 1,490-1,500, white 2,550-2,650, Maize 1,225-1,230, Barley 1,260-1,270.