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Wheat down in West UP as Diwali Demand Ends Early, Flat Elsewhere

26 Oct 2021 7:27 pm
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NEW DELHI, Oct 25 (Commoditiescontrol) - Wheat fell by Rs 10 per quintal in the mandis of western Uttar Pradesh including Bareilly on Tuesday, while stayed unchanged in the mandis of all other states amid weak procurement by the mills. The prices of wheat had remained strong due to strong demand in the market amid limited cases of Corona for several months, but the fulfilment of the demand for Diwali early this year from previous years is believed to be the Corona effect.

Traders said that mills are very cautious while purchasing wheat due to weak demand for maida and suji. There is also pressure of cheap government wheat in the market.

Traders said that there is uncertainty about Diwali demand in the market due to Corona and against this backdrop mills are procuring wheat in limited quantity only. There is also a liquidity crunch in the market due to lower demand for wheat products compared to previous years. Due to this, demand of wheat for Diwali got completed sooner than the normal time.

The market remained sluggish due to weak demand from mills. Wheat sold lower by Rs 10 in Bareilly due to lacklustre demand, with wheat reaching the mill is being offered at Rs 2040-2050 per quintal. On the other hand, the prices of wheat remained at the previous level in the mandis of East UP including Kanpur. Kanpur-based trader Anil Gupta said Diwali demand for wheat this year was met quickly as mills bought less due to uncertainty in demand.

Wheat prices remained stable in Bihar too. Wheat price in the mandis was sold at Rs 1990-2000 per quintal. While the wheat kept in the warehouse of traders and stockists also remained stable. The prices of wheat remained unchanged in the mandis of Rajasthan. In Hadauti region, the arrival of wheat decreased to 4000 bags (100 kg per bag), while arrival in entire Rajasthan is estimated to be around 8-10 thousand bags.

Wheat is being sold in Delhi at Rs 2120-2140 per quintal (mill-gate). Despite reduced arrival of wheat in the mandis of Delhi, there was no firmness in the price. This shows the weakness of the sentiment. In Delhi, the arrival at Lawrence Road today decreased from 4500 bags (50 kg per bag) to 4000 bags, while by adding the supply of all the mandis and direct mills and atta chakkis, the arrival in entire Delhi is estimated to be 15-20 thousand bags. Wheat remained stable in Indore and many other mandis of Madhya Pradesh.


Market

Wheat Variety

26-Oct

25-Oct

Change

Delhi (Ex mill)

Mill quality

2120-2140

2120-2140

0

Kota, Rajasthan

Mill quality

1925-1960

1925-1960

0

Tukdi

1975-2050

1975-2050

0

Bundi, Rajasthan

Mill quality

1925-1950

1925-1950

0

Tukdi

1975-2040

1975-2040

0

Baran, Rajasthan

Mill quality

1925-1950

1925-1950

0

Tukdi

1970-2060

1970-2060

0

Indore, (M. P.)

Mill quality (Bilty)

2025-2050

2025-2050

0

Lok-1

2050-2300

2050-2300

0

1544

2050-2300

2050-2300

0

Malavraj Poshan

2050-2400

2050-2400

0

Kanpur (Ex mill)

Mill quality

2010-2020

2010-2020

0

Bareilly (Ex mill)

Mill quality

2040-2050

2050-2060

-10

Mill quality- Loose

1940-1950

1950-1960

-10

Begusarai, Bihar

Mill quality- 343

1990-2000

1990-2000

0

Warehouse

2030-2050

2030-2050

0

(By Commoditiescontrol Bureau: +91-22-40015505)


       
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