Wheat, rice basmati weaken on subdued demand

NEW DELHI, May 31: Weak conditions prevailed on the wholesale grains market today with prices of wheat and rice basmati drifting owing to reduced offtake by flour mills and stockists against increased supplies.
Traders said reduced offtake by flour mills against increased supplies on reports of higher procurement, mainly led to the fall in wheat prices.
Sluggish demand against adequate stocks position kept pressure on rice basmati prices, they said.
In the national capital, wheat dara (for mills)fell by Rs 10 to Rs 1,515-1,520 per quintal. Atta chakki delivery followed suit and traded lower by the same margin to Rs 1,520- 1,525 per 90 kg.
In the rice section, basmati common and Pusa-1121 variety eased to Rs 8,200-8,700 and Rs 7,100-8,800 against last close of Rs 8,600-9,000 and Rs 7,400-9,100 per quintal, respectively on sluggish demand against adequate supply.
Following were today’s quotations per quintal:
Wheat, MP (deshi) 2,160-2,360, Wheat dara (for mills) 1,515-1,520, Chakki atta (delivery) 1,520-1,525 Atta Rajdhani (10 kg) 220, Shakti bhog (10 kg) 220, Roller flour mill 810-830 (50 kg), Maida 830-850 (50 kg) and Sooji 920-940 (50kg).
Basmati rice (Lal Quila) 10,400, Shri Lal Mahal 10,000, Super Basmati Rice, 9,500, Basmati common new 8,200-8,700, Rice Pusa-(1121) new 7,100-8,800, Permal raw 2,150-2,200, Permal wand 2,200-2,300, Sela 2,750-2,850 and Rice IR-8- 1,800-1,850, Bajra 1,315-1,320, Jowar yellow 1,450-1,475, white 2,325-2,525, Maize 1,340-1,345, Barley 1,320-1,330. (PTI)


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