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Wheat slips on adequate supply

New Delhi: Wheat prices drifted lower by Rs 20 per quintal at the wholesale grains market today on ample stocks position against easing demand from flour mills at prevailing levels.

However, other grains remained flat in thin trade.

Traders said besides easing demand from flour mills at existing levels, adequate stocks position on improved supplies amid government’s measures to check rising prices mainly led to decline in 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.

Recently, the centre released 10 lakh tonnes of wheat under the Open Market Sale Scheme (OMSS) meant for flour millers and other bulk users.

In the national capital, wheat dara (for mills) declined by Rs 20 to Rs 2,350-2,355 per quintal, respectively.

Atta chakki delivery traded lower by a similar margin to Rs 2,375-2,390 per 90 kg.

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

Wheat MP (desi) Rs 2,850-3,385, Wheat dara (for mills) Rs 2,350-2,355, Chakki atta (delivery) Rs 2,375-2,390, Atta Rajdhani (10 kg) Rs 300, Shakti Bhog (10 kg) Rs 300, Roller flour mill Rs 1,340-1,350 (50 kg), Maida Rs 1,430-1,440 (50 kg)and Sooji Rs 1,480-1,490 (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 5,800-5,900, Rice Pusa (1121) Rs 4,700-5,900, 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.