Basmati weakens on higher supply and adequate stocks

NEW DELHI: Prices of rice basmati drifted by Rs 100 per quintal at the wholesale grains market today, pulled down by adequate stocks position on higher supplies against sluggish demand.

However, other grains including wheat continued to trade in a tight range in limited deals and settled around previous levels.

Marketmen said ample stocks against subdued demand mainly led to decline in rice basmati prices.

In the national capital, rice basmati common and Pusa 1121 variety eased by Rs 100 each to Rs 5,800-6,000 and Rs 4,700-5,900 per quintal respectively.

Following are today's quotations (in Rs per quintal): Wheat MP (desi) 2,350-2,700, Wheat dara (for mills) 1,550-1,555, Chakki atta (delivery) 1,560-1,565, Atta Rajdhani 10 kg) 220, Shakti Bhog (10 kg) 220, Roller flour mill 840-850 (50 kg), Maida 890-900 (50 kg) and Sooji 1,020-1,030 (50 kg).

Basmati rice (Lal Quila) 10,400, Shri Lal Mahal 10,000, Super Basmati Rice 9,500, Basmati common new 5,800-6,000, Rice Pusa (1121) 4,700-5,900, Permal raw 1,700-1,750, Permal wand 1,900-1,925, Sela 2,300-2,400 and Rice IR-8 1,600-1,625, Bajra 1,200-1,205, Jowar yellow 1,490-1,500, white 2,550-2,650, Maize 1,225-1,230, Barley 1,260-1,270.