Wheat prices fall in India markets
Monday, 21 July 2008
NEW DELHI, JUL 20 (PTI): Grains: Wheat prices fell in the national capital during the week under review on increased supplies from producing regions of Haryana and Punjab amid restricted buying support from stockists and rolling flour mills.
However, prices of other grains including rice remained stable throughout the week in limited small deals.
Marketmen said increased supplies, after reports that government procured enough stocks and might sell more wheat in the domestic market to check prices, mainly influenced trading sentiment.
They said reduced offtake by rolling flour mills during the current month following heavy rains had negative impact on the wholesale wheat prices. The consumption of atta was also less due to off marriage and festival season, traders said.
In the wheat section, wheat MP (Deshi) declined by Rs 25 to Rs 1,375-1,575 per quintal on increased arrival from Madhya Pradesh.
Wheat dara (for mills), which is normally used by rolling flour mills declined by Rs 10 to Rs 1,025-1,100 per quintal on reduced offtake. Atta chakki delivery were traded Rs 10 lower at Rs 1,090-1,095 per 90 kg in line with wheat.
On the other hand, fluctuations in rice prices remained restricted following sluggish demand due to off marriage and festival season. Rice basmati (Lal Quila) and (Shri Lal Mahal) enquired around their last levels of Rs 9,500 per quintal each.
Super basmati and basmati common varieties too traded around previous levels at Rs 8,900 and Rs 7,100-7,300 per quintal, respectively.
However, prices of other grains including rice remained stable throughout the week in limited small deals.
Marketmen said increased supplies, after reports that government procured enough stocks and might sell more wheat in the domestic market to check prices, mainly influenced trading sentiment.
They said reduced offtake by rolling flour mills during the current month following heavy rains had negative impact on the wholesale wheat prices. The consumption of atta was also less due to off marriage and festival season, traders said.
In the wheat section, wheat MP (Deshi) declined by Rs 25 to Rs 1,375-1,575 per quintal on increased arrival from Madhya Pradesh.
Wheat dara (for mills), which is normally used by rolling flour mills declined by Rs 10 to Rs 1,025-1,100 per quintal on reduced offtake. Atta chakki delivery were traded Rs 10 lower at Rs 1,090-1,095 per 90 kg in line with wheat.
On the other hand, fluctuations in rice prices remained restricted following sluggish demand due to off marriage and festival season. Rice basmati (Lal Quila) and (Shri Lal Mahal) enquired around their last levels of Rs 9,500 per quintal each.
Super basmati and basmati common varieties too traded around previous levels at Rs 8,900 and Rs 7,100-7,300 per quintal, respectively.