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Dara wheat and flour prices continued to tumble on account of easy availability and low off-take on Tuesday.
The situation of the market was anticipated and wheat and flour prices are likely to fall further in coming days, said Sewa Ram, a trade expert.
About 10,000 bags of dara wheat arrived at the Karnal Grain Market Terminal on Tuesday and stocks were unsold due to high moisture.
Wheat procurement by Government agencies has not started yet, he said.In the physical market, dara wheat prices eased further by Rs 20 a quintal and quoted at Rs 1,480-1,485.
Mill delivery was at Rs 1,480 while delivery at the chakki was Rs 1,485. Desi wheat variety was quoted at Rs 2,600. In the national Capital, wheat mill quality traded at Rs 1,560.
On the National Commodity and Derivatives Exchange, wheat futures traded higher on Tuesday. Wheat for April contracts increased by Rs 5 and traded at 1,425 with an open interest of 2,450 lots. May contracts went up by Rs 4 to Rs 1,410.
Wheat futures trade higher on NCDEX on renewed buying interest for new crop and a range-bound movement likely to be witnessed in the coming days, said market experts.
Wheat spot prices on the exchange went down by Rs 10 and traded at Rs 1,445.
Following a downtrend in wheat, flour, too, went down by Rs 10 and quoted at Rs 1,715. Similarly, Chokar dropped by Rs 20 and sold at Rs 1,250.
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