Sluggish demand pulls down wheat

Dara wheat prices dropped further on account of sluggish demand on Tuesday. Dara prices dropped by Rs 10-20 and ruled around Rs 1,250 a quintal against the levels of Rs 1,270 quoted last weekend.

For the finer quality, it was around Rs 1,270 a quintal while the seed variety was around Rs 1,280. In Delhi market, wheat prices dropped too and ruled around the levels of Rs 1,320-1,330 a quintal.

Mr Sewa Ram, a wheat trader, told

Business Line that the market had already witnessed a fall of Rs 40-50 a quintal in last few days and it's hard to anticipate the levels where the market will get any support. Traders have adequate stocks but the domestic demand is very low, he added.

With no arrivals from Uttar Pradesh and Madhya Pradesh of Dara and desi wheat varieties, local traders are offloading their stocks in order to exhaust their stocks before March 31, said Mr Ram. Around 300 quintals stock of dara variety was offloaded by the local stockists, on Tuesday.

Flour prices

Flour prices continued to tumble, dropping Rs 20 for a 90-kg bag and quoted at Rs 1,270 against the levels of Rs 1,290 quoted last weekend. Chokar prices witnessed a fall and ruled at Rs 600 for a 49-kg bag.