With buying emerging on a small scale, dara wheat and flour prices improved by Rs 10 and Rs 5 a quintal, respectively, on Tuesday.
Radhey Sham, a wheat trader, told Business Line , that limited arrivals in the market coupled with some fresh buying pushed dara wheat and flour prices upwards.
Traders expect that market may continue to rule around current levels for the next few days, he added.
In the physical market, dara wheat prices went up by Rs 10 and quoted at Rs 1,540-1,545.
Around 65 tonnes of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills.
Mill delivery was at Rs 1,540, while delivery at the chakki was Rs 1,545.
Wheat futures were bearish on the National Commodity and Derivatives Exchange, on Tuesday.
Wheat for March contracts eased by Rs 9 and traded at Rs 1,519; it had touched a high at Rs 1,538 earlier in the day. April contracts went down by Rs 11 to Rs 1,414.
While, wheat spot prices on the exchange improved by Rs 2.5 and traded at Rs 1,512.5.
According to the market experts, wheat futures are expected to trade sideways on reports that India’s wheat exports are likely to grow by 23 per cent in the marketing year starting April due to strong global prices.
Demand for Flour
An increase in demand pushed flour prices marginally up by Rs 5 and quoted at Rs 1,750-1,760.On the other hand, Chokar continued to rule flat and sold at Rs 1,360-1400.