Wholesale grains market remains weak on subdued demand

Weak conditions prevailed at the wholesale grains market during the week as prices of basmati, wheat and a few other bold grains prices drifting lower due to fall in demand against against adequate stocks position.

Traders said muted demand from stockists and rice mills demand against sufficient stocks position mainly weighed on rice basmati prices.

They said subdued demand from flour mills against sufficient stocks position kept pressure on wheat prices.

In the national capital, rice basmati common and Pusa- 1121 variety fell by Rs 100 each to Rs 7,800-7,900 and Rs 6,400-6500 per quintal respectively.

Non-basmati rice permal raw and wand also shed Rs 25 each to Rs 2,275-2,325 and Rs 2,325-2,375 per quintal respectively in line with rice basmati trend.

Wheat dara (for mills) shed Rs 5 to Rs 1,795-1,810 per quintal. Atta chakki delivery followed suit and traded lower by a similar margin to Rs 1,805-1,810 per 90 kg.

Other bold grains like, bajra and maize too slipped to Rs 1,200-1,205 and Rs 1,320-1,325 from previous levels of Rs 1,225-1,230 and Rs 1,340-1,345 per quintal respectively on reduced offtake by consuming industries.

However, barley edged up by Rs 10 to Rs 1,490-1,500 per quintal.