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Fresh buying coupled with low availability of stocks on Tuesday, pushed dara wheat and flour prices up by Rs 15 and Rs 10 a quintal, respectively.
In the physical market, dara wheat went up by Rs 15 and quoted Rs 1,555-1,560 a quintal.
Radhey Shyam, a trade expert, told Business Line that low availability of stocks mainly pushed dara wheat prices up. Only the big flour mills are getting stocks from the Food Corporation of India through tenders, he added.
Small chakki owners are forced to buy in the open market, he said.
It is unlikely to see any major alteration in prices this week and dara wheat may continue to rule around current levels, he added.
Around 52 tonnes of dara variety arrived from Uttar Pradesh and the stocks were directly offloaded at the mills. Mill delivery was at Rs 1,555 while delivery at the chakki was at Rs 1,560 a quintal.
On the National Commodity and Derivatives Exchange, wheat for March delivery decreased by Rs 15 and traded at 1,532 a quintal with an open interest of 5,660 lots. April contracts went down by Rs 5 to Rs 1,399. Wheat spot prices on the exchange improved by Rs 5 and traded at Rs 1,512.5.
Flour Prices
Following an uptrend in wheat, flour prices too went up by Rs 10 and quoted at Rs 1,760-1,770 . On the other hand, Chokar continued to rule flat and sold at Rs 1,360-1,400 a quintal.
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