Wheat declines on higher supply, reduced offtake

Wheat prices softened by Rs 5 per quintal at the wholesale grains market today due to reduced offtake by flour mills against adequate stocks position.

Bajra and maize also eased on subdued demand from consuming industries.

Traders said, reduced offtake by flour mills against adequate stocks position mainly weighed on wheat prices.

In the national capital, wheat dara (for mills) shed Rs 5 to Rs 1,745-1,750 per quintal. Atta chakki delivery followed suit and enquired lower by Rs 10 to Rs 1,750-1,755 per 90 kg.

Atta flour mills, maida and sooji also finished lower by Rs 10 each to Rs 940-950, Rs 960-970 and Rs 1,030-1,040 per 50 kg, respectively.

Other bold grains like, bajra and maize fell by Rs 20 each to Rs 1,230-1,335 and Rs 1,240-1,245 per quintal, respectively.

Following are today's quotations (in Rs per quintal):
Basmati rice (Lal Quila) Rs 10,700, Shri Lal Mahal Rs 11,300, Super Basmati rice Rs 9,900, Basmati common new Rs 7,300-7,400, Rice Pusa (1121) Rs 6,550-6,650, Permal raw Rs 2,425-2,450, Permal wand Rs 2,525-2,575, Sela Rs 3,050-3,150 and Rice IR-8 Rs 2,025-2,075, Bajra Rs 1,230-1,235,