Wheat, rice weaken on ample stocks

The wholesale grains market ended on a weak note today today as prices of wheat and rice basmati fell by up to Rs 100 per quintal due to reduced offtake by flour mills and stockists against sufficient stocks.
Traders said reduced offtake by flour mills against adequate stocks position kept pressure on wheat prices.
They said muted demand from retailers led to decline in rice basmati.
Meanwhile, the government's rice procurement has increased by over 21 per cent to 28.41 million tonnes so far in the 2015-16 marketing year despite prospects of lower production due to poor monsoon.
In the national capital, wheat dara (for mills) fell by Rs 20 to Rs 1,700-1,705 per quintal. Atta chakki delivery followed suit and traded lower by Rs 25 to Rs 1,700-1,705 per 90 kg.

Rice basmati common and Pusa-1121 variety also drifted further by Rs 100 each to Rs 5,100-5,200 and Rs 3,800-4,700 per quintal, respectively.

Non-basmati rice permal raw, wand and sela too settled lower at Rs 1,875-1,925, Rs 2,075-2,125 and Rs 2,300-2,400 from previous levels of Rs 1,900-1,950, Rs 2,125-2,175 and Rs 2,400-2,500 per quintal respectively in line with a weak trend in rice basmati.
Following are today's quotations (in Rs per quintal):
Wheat MP (desi) Rs 2,050-2,650, Wheat dara (for mills) Rs 1,700-1,705, Chakki atta (delivery) Rs 1,705-1,710, Atta Rajdhani (10 kg) Rs 230, Shakti Bhog (10 kg) Rs 230, Roller flour mill Rs 880-890 (50 kg), Maida Rs 950-960 (50 kg) and Sooji Rs 1,000-1,005 (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 5,100-5,200, Rice Pusa (1121) Rs 3,800-4,700, Permal raw Rs 1,875-1,925, Permal wand Rs 2,075-2,125, Sela Rs 2,300-2,400 and Rice IR-8 Rs 1,700-1,720, Bajra Rs 1,510-1,515, Jowar yellow Rs 1,750-1,850, white Rs 3,300-3,400, Maize Rs 1,660-1,665, Barley Rs 1,400-1,410.