Wheat declines on increased supply

NEW DELHI: Wheat prices declined by Rs 15 per quintal in an otherwise steady wholesale grains market today on increased supplies against reduced offtake by flour mills.

However, other grains, including rice basmati, moved in a narrow range in limited deals and settled around previous levels.

Traders said increased supplies in the wake of reduced offtake by flour mills mainly kept pressure on wheat prices.

In the national capital, wheat dara (for mills) fell by Rs 15 to Rs 1,495-1,500 per quintal. Atta chakki delivery followed suit and eased to Rs 1,505-1,510 against last close of Rs 1,520-1,530 per 90 kg. Atta flour mills slipped to Rs 810-825 from Rs 815-830 per 50 kg.

Following are today's quotations per quintal: Wheat MP (deshi) 2,160-2,360, Wheat dara (for mills) 1,495-1,500, Chakki atta (delivery) 1,505-1,510, Atta Rajdhani (10 kg) 220, Shakti bhog (10 kg) 220, Roller flour mill 810-825 (50 kg), Maida 830-850 (50 kg) and Sooji 930-950 (50kg).