Rice basmati, wheat weaken on reduced offtake

Rice basmati and wheat prices fell by up to Rs 100 per quintal at the wholesale grains market today due to reduced offtake against sufficient stocks position.
Marketmen said muted demand from retailers led to the slide in rice basmati prices.
They said that reduced offtake by flour mills amid sufficient stocks position on persistent supplies from growing regions kept pressure on wheat prices.
Meanwhile, the government projected wheat output at an all-time high of 97.44 million tonnes (MT) in the 2016-17 crop year ending next month due to good monsoon.
In the national capital, rice basmati common declined by Rs 100 to Rs 7,400-7,500 per quintal.

Wheat (desi) and wheat dara (for mills) also fell by Rs 30 each to Rs 2,100-2,370 and Rs 1,725-1,730 per quintal.

Following are today's quotations (in Rs per quintal):
Wheat MP (desi) Rs 2,100-2,370, Wheat dara (for mills) Rs 1,725-1,730, Chakki atta (delivery) Rs 1,730-1,735, Atta Rajdhani (10 kg) Rs 240, Shakti Bhog (10 kg) Rs 240, Roller flour mill Rs 940-950 (50 kg), Maida Rs 955-965 (50 kg) and Sooji Rs 1,030-1,040 (50 kg).
Basmati rice (Lal Quila) Rs 10,700, Shri Lal Mahal Rs 11,300, Super Basmati Rice Rs 9,800, Basmati common new Rs 7,400-7,500, Rice Pusa (1121) Rs 6,000-6,800, Permal raw Rs 2,250-2,275, Permal wand Rs 2,300-2,350, Sela Rs 2,700-2,800 and Rice IR-8 Rs 1,875-2,000, Bajra Rs 1,350-1,360, Jowar yellow Rs 1600-1650, white Rs 3,300-3,500, Maize Rs 1,450-1,460, Barley Rs 1,550-1,570.