Wheat drops on ample stocks, reduced offtake

Wheat prices fell by Rs 70 per quintal at the wholesale grains market today due to reduced offtake by flour mills against sufficient stocks position.
However, rice basmati moved up on pick up in demand.
Traders said sufficient stocks position against reduced offtake by flour mills and expectations of bumper crops this season mainly kept pressure on wheat prices.
In the national capital, wheat (desi) and wheat dara (for mills) fell by Rs 70 each to Rs 2,730-3,030 and Rs 1,960-1,970 per quintal respectively. Atta chakki delivery followed suit and traded lower by a similar margin to Rs 1,970-2,000 per 90 kg.

Atta flour mills and maida also settled lower at Rs 1,070-1,080 and Rs 1,160-1,170 from previous levels of Rs 1,120-1,130 and Rs 1,190-1,200 per 50 kg respectively in line with wheat trend.
On the other hand, rice basmati common and Pusa-1121 variety shot up by Rs 200 each to Rs 7,300-7,500 and Rs 6,100-7,500 per quintal respectively.

Following are today's quotations (in Rs per quintal):
Wheat MP (desi) Rs 2,730-3,030, Wheat dara (for mills) Rs 1,960-1,970, Chakki atta (delivery) Rs 1,970-2,000, Atta Rajdhani (10 kg) Rs 285, Shakti Bhog (10 kg) Rs 285, Roller flour mill Rs 1,070-1,080 (50 kg), Maida Rs 1,160-1,170 (50 kg)and Sooji Rs 1,250-1,260 (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 7,300-7,500, Rice Pusa (1121) Rs 6,100-7,500, 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 1,430-1,470, Jowar yellow Rs 1750-1800, white Rs 3,500-3,700, Maize Rs 1,580-1,590, Barley Rs 1,800-1,820.