Wheat remains weak on higher supply, rice basmati eases

Wheat prices dropped by Rs 100 per quintal at the wholesale grains market today on ample stocks position and improved supplies.

Rice basmati also turned weak on muted demand.

Traders said ample stocks position on improved supplies amid government's measures to check rising prices mainly kept pressure on the wheat prices.

Meanwhile, the government has doubled the quantity of wheat to 14,000 tonnes to be sold in open market through auction in the national capital on November 24 in order to check prices.

In the national capital, wheat dara (for mills) plunged by Rs 100 to Rs 2,250-2,255 per quintal, respectively. Atta chakki delivery traded lower by a similar margin to Rs 2,275-2,290 per 90 kg.
 

Atta flour mills, maida and sooji settled lower at Rs 1,210-1,220, Rs 1,310-1,320 and Rs 1,370-1,380 from previous level of Rs 1,340-1,350, Rs 1,430-1,440 and Rs 1,480-1,490 per 50 kg, respectively in line with wheat trend.

On the other hand, rice basmati common and Pusa-1121 variety drifted lower by Rs 100 each to Rs 5,700-5,800 and Rs 4,600-5,800 per quintal, respectively.

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

Wheat MP (desi) Rs 2,850-3,385, Wheat dara (for mills) Rs 2,250-2,255, Chakki atta (delivery) Rs 2,275-2,290, Atta Rajdhani (10 kg) Rs 300, Shakti Bhog (10 kg) Rs 300, Roller flour mill Rs 1,210-1,220 (50 kg), Maida Rs 1,310-1,320 (50 kg)and Sooji Rs 1,370-1,380 (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 5,700-5,800, Rice Pusa (1121) Rs 4,600-5,800, Permal raw Rs 2,050-2,075, Permal wand Rs 2,150-2,200, Sela Rs 2,800-2,900 and Rice IR-8 Rs 1,850-1,860, Bajra Rs 1,540-1,545, Jowar yellow Rs 1,850-1,900, white Rs 3,500-3,700, Maize Rs 1,680-1,690, Barley Rs 1,810-1,820.