Wheat weakens on ample stocks

Traders said reduced offtake by flour mills also contributed to it

Wheat prices softened by Rs 10 per quintal at the wholesale grains market on Saturday due to reduced offtake by flour mills against adequate stocks position.

However, barley moved up on pick-up in demand from consuming industries.

Traders said besides reduced offtake by flour mills, adequate stocks position kept pressure on the wheat prices.

In the national capital, wheat dara (for mills) declined by Rs 10 to Rs 1,800-1,805 per quintal. Atta chakki delivery followed suit and traded lower by a similar margin to Rs 1,805-1,810 per 90 kg. Atta flour mills shed Rs 10 at Rs 9,60-9,70 per 50 kg.

On the other hand, barley rose by Rs 30 to Rs 1,530-1,535 per quintal.

Following are Saturday's quotations (in Rs per quintal):

Wheat MP (desi) Rs 2,300-2,835, Wheat dara (for mills) Rs 1,800-1,805, Chakki atta (delivery) Rs 1,805-1,810, Atta Rajdhani (10 kg) Rs 275, Shakti Bhog (10 kg) Rs 275, Roller flour mill Rs 960-970 (50 kg), Maida Rs 1,060-1,070 (50 kg) and Sooji Rs 1,090-1,100 (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 4,700-4,900, Rice Pusa (1121) Rs 3,900-4,700, Permal raw Rs 2,000-2,050, Permal wand Rs 2,150-2,225, Sela Rs 2,800-2,900 and Rice IR-8 Rs 1,840-1,850, Bajra Rs 1,260-1,270, Jowar yellow Rs 1,850-1,950, white Rs 3,500-3,700, Maize Rs 1,500-1,510, Barley Rs 1,530-1,535.