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Wheat drops on increased supply, reduced offtake

NEW DELHI, Feb 18:  Wheat prices dropped by Rs 50 per quintal at the wholesale grains market today following adequate stocks on increased supplies against reduced offtake by flour mills.
However, rice basmati edged up on scattered demand.
Traders said besides reduced offtake by flour mills, ample stocks position on increased arrivals from producing regions and expectations of bumper crop this year, mainly pulled down wheat prices.
In the national capital, wheat (desi) and wheat dara (for mills) fell by Rs 50 each to Rs 2,660-2,960 and Rs 1,900-1,910 per quintal, respectively. Atta chakki delivery followed suit and traded lower by a similar margin to Rs 1,910-1,940 per 90 kg.
Atta flour mills, maida and sooji too finished lower at Rs 1,000-1,010, Rs 1,110-1,120 and Rs 1,190-1,200 from previous levels of Rs 1,010-1,020, Rs 1,115-1,125 and Rs 1,210-1,225 per 50 kg, respectively in line with wheat trend.
On the other hand, rice basmati common and Pusa-1121 variety rose by Rs 100 each to Rs 7,200-7,300 and Rs 5,700-7,100 per quintal, respectively.
Following are today’s quotations (in Rs per quintal):
Wheat MP (desi) Rs 2,660-2,960, Wheat dara (for mills) Rs 1,900-1,910, Chakki atta (delivery) Rs 1,910-1,940, Atta Rajdhani (10 kg) Rs 270, Shakti Bhog (10 kg) Rs 270, Roller flour mill Rs 1,000-1,010 (50 kg), Maida Rs 1,110-1,120 (50 kg) and Sooji Rs 1,190-1,200 (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 7,200-7,300, Rice Pusa (1121) Rs 5,700-7,100, Permal raw Rs 2,200-2,250, Permal wand Rs 2,300-2,400, Sela Rs 3,000-3,100 and Rice IR-8 Rs 2,000-2,025, Bajra Rs 1,430-1,440, Jowar yellow Rs 1750-1800, white Rs 3,500-3,700, Maize Rs 1,580-1,590, Barley Rs 1,800-1,820. (PTI)
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