Wheat dara and flour prices eased by Rs 10-15 a quintal on account of ample stocks coupled with reduced offtake, on Tuesday.

Steady domestic demand and easy availability of stocks pulled wheat and flour down, said Radhey Sham, a market expert. Wheat may continue to rule around current levels and any major alteration in prices is unlikely, he added.

In the physical market, dara wheat dropped by Rs 10 to Rs 1,410-1,415. Mill delivery was at Rs 1,410, while delivery at the chakki was at Rs 1,415.

At the Lawrence road market in Delhi, a benchmark for the country, wheat mill quality traded at Rs 1,475.

On the National Commodity and Derivatives Exchange, wheat futures traded lower on Tuesday. Wheat May contracts decreased by Rs 10 at 1,508 with an open interest of 13,220 lots. It had touched a high at Rs 1,530 earlier in the day.

May contracts went down by Rs 6 and traded at Rs 1,533. Wheat futures traded down on account of easy availability and low off-take.

According to the market experts, a range-bound to steady movement is likely to be witnessed in the coming days. Wheat spot prices on the exchange traded at Rs 1,387.5.

Flour Prices

Following reduced off-take, flour went further down by Rs 15 at Rs 1,670. On the other hand, Chokar continued to rule flat and sold at Rs 1,250.

Drop in new arrivals

Meanwhile, arrivals have dropped drastically to just about 60,000 bags of dara wheat at the Karnal grain market terminal against of about 1 lakh bags till last weekend.

No arrivals from the Uttar Pradesh and low yield were behind the fall in arrivals, said market experts.

Quality of the stock is medium and procurement was done by the government agencies.

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