Wheat, rice decline on higher supply

Weak conditions developed in wholesale grains market today as prices of wheat and rice basmati declined up to Rs 100 per quintal on increased supplies against reduced offtake by flour mills and stockists.
Traders said, increased supply pressure from producing regions mainly kept pressure on wheat prices.
They said sluggish demand against adequate stocks led to decline in rice basmati prices.
Wheat dara (for mills) declined by Rs 15 to Rs 1,500-1,510 per quintal. Atta chakki delivery followed suit and traded lower by Rs 10 to Rs 1,510-1,515 per 90 kg.
In the rice section, rice basmati Pusa-1121 variety lost Rs 100 at Rs 7,000-8,700 per quintal.

Non-basmati rice sela also eased to Rs 2,600-2,700 from previous level of Rs 2,750-2,850 per quintal.

Following were today's quotations per quintal:
Wheat, MP (deshi) 2,160-2,360, Wheat dara (for mills) 1,500-1,510, Chakki atta (delivery) 1,510-1,515, Atta Rajdhani (10 kg) 220, Shakti bhog (10 kg) 220, Roller flour mill 810-830 (50 kg), Maida 830-850 (50 kg) and Sooji 920-940 (50kg).
Basmati rice (Lal Quila) 10,400, Shri Lal Mahal 10,000, Super Basmati Rice, 9,500, Basmati common new 8,200-8,700, Rice Pusa-(1121) new 7,000-8,700, Permal raw 2,150-2,200, Permal wand 2,200-2,300, Sela 2,600-2,700 and Rice IR-8- 1,800-1,850, Bajra 1,315-1,320, Jowar yellow 1,450-1,475, white 2,325-2,525, Maize 1,330-1,335, Barley 1,320-1,330.