Wheat, rice basmati slide on reduced offtake

Weak conditions prevailed at the wholesale grains market today as prices of wheat and rice basmati drifted lower by up to Rs 300 per quintal due to reduced offtake by flour mills and stockists against ample stocks position.
A few other bold grains also eased on lack of demand from consuming industries.
Traders said reduced offtake by flour mills against sufficient stocks position due to increased supplies from producing belts mainly led to the decline in wheat prices.
They said tepid demand kept pressure on rice basmati prices.
In the national capital, wheat MP (desi) and wheat dara (for mills) fell by Rs 50 and Rs 40 to Rs 2,150-2,450 and Rs 1,695-1,700 per quintal, respectively. Atta chakki delivery followed suit and traded lower by a similar margin to Rs 1,700 -1,705 per 90 kg. Atta flour mills, maida and sooji also settled lower at Rs 940-950, Rs 955-965 and Rs 1,030-1,040 as compared to previous levels of Rs 960-970, Rs 1,000-1,020 and Rs 1,100-1,110 per 50 kg, respectively in line with wheat trend.

In the rice section, rice basmati common and Pusa-1121 variety fell by Rs 300 each to Rs 8,000-8,100 and Rs 6,300- 7,400 per quintal, respectively.

Non-basmati rice permal raw, wand, sela and IR-8 were quoted lower at Rs 2,275-2,325, Rs 2,400-2,450, Rs 3,000-3,100 and Rs 2,000-2,025 against last close of Rs 2,300-2,350, Rs 2,450-2,500, Rs 3,100-3,200 and Rs 2,050-2,100 per quintal.
Other bold grains like, bajra, maize and barley were down by Rs 20 each to Rs 1,370-1,380, Rs 1,500-1,510 and Rs 1,550-1,570 per quintal respectively. Jowar yellow and white too lost Rs 50 each at Rs 1,600-1,650 and Rs 3,300-3,500 per quintal, respectively.

Following are today's quotations (in Rs per quintal):
Wheat MP (desi) Rs 2,150-2,450, Wheat dara (for mills) Rs 1,695-1,700, Chakki atta (delivery) Rs 1,700-1,705, 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 9,700, Basmati common new Rs 8,000-8,100, Rice Pusa (1121) Rs 6,300-7,400, Permal raw Rs 2,275-2,325, Permal wand Rs 2,400-2,450, Sela Rs 3,000-3,100 and Rice IR-8 Rs 2,000-2,025, Bajra Rs 1,370-1,380, Jowar yellow Rs 1600-1650, white Rs 3,300-3,500, Maize Rs 1,500-1,510, Barley Rs 1,550-1,570.