Dara wheat prices witnessed a major correction after touching a two-year high at the beginning of this week.
On Thursday, the prices of the dara variety dropped by Rs 50 a quintal and ruled around Rs 1,280-1,285 a quintal. The market had earlier touched levels of Rs 1,320-1,330 a quintal, the highest in the past two years.
The price at the retail outlets ruled at Rs 1,290-1,295 a quintal and was around Rs 1,300 a quintal for the finer quality. Mr Subhash Chander, a wheat trader, told
Sluggish demand for flour is also a reason behind the fall, said Mr Chander. Similarly, the prices of desi wheat dropped on account of low trading. While Bhojan King quoted at Rs 2,350 a quintal against previous levels of Rs 2,400 a quintal, Aaj Tak quoted at Rs 2,300 and Nokia at Rs 2,350.
Flour prices
After a fall in wheat prices, flour prices dropped marginally by Rs 10-15 for a 90-kg bag and quoted at Rs 1,320.
Chokar prices continued to tumble, ruling at Rs 600 for a 49-kg bag against Rs 610 quoted on Tuesday.