Wheat declines on increased supply

NEW DELHI: Wheat and its product prices fell by up to Rs 30 per quintal in the wholesale grains market today on adequate stocks following increased arrivals amid reduced offtake by flour mills.

Traders said mounting stocks following increased arrivals from producing region amid reduced offtake by flour mills led to the decline in wheat prices.

In the national capital, wheat dara (for mills) fell by Rs 30 to Rs 1,180-1,185 per quintal. Atta chakki delivery followed suit and traded lower by the same margin to Rs 1,200-1,205 per 90 kg.

Similarly, maida and sooji also weakened by Rs 20 each to Rs 730-760 and Rs 800-820 per 50 kg, respectively.