Wheat Trade Affected amid Second Wave Of Corona, Prices Down In Indore, Bareilly

NEW DELHI (Commodities control) Wheat prices remained stable in most of the markets, barring Indore and Bareilly because of demand worries amid next wave of Covid-19. Bareilly and Indore market witnessed down fall of up to Rs. 25 per quintal on weak demand. Bearish mood gripped the market due to rising cases of Covid-19 infections.

Wheat prices were steady in Delhi at Rs. 1870-1880 per quintal. Other market also registered stable trend due to poor demand and limited trade. The prices eased from Rs. 1625-1650 to Rs. 1600-1625 per quintal in Indore and the down from Rs. 1670-1680 to Rs. 1660-1680 per quintal in Bareilly. A trader told us that weak demand is weighing on prices.

Millers, stockists were cautious with fresh buying due to surge in Corona cases. Surge in corona cases in global markets is feared to impact prospects of economic recovery. But domestic picture of Covid is equally grim that may likely lead to new restrictions and lockdowns. Few states including Rajasthan imposed night curfew which will impact normal activities and trade.