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Wheat Prices Crash In Delhi, Markets To Remain Choppy Till November End

26 Nov 2020 3:42 pm
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NEW DELHI (Commodities control) Wheat prices crashed in Delhi, on Thursday. Prices slipped further in Kanpur and Bareilly. Overall market sentiments remained weak across the markets, despite steady prices in other markets. Traders, buyers, millers and stockists were cautious,awaiting the end of November. They were waiting to witness the end of free wheat distribution scheme till end of current month.


Mill quality wheat fell by Rs. 50 to Rs. 1820-1830 per quintal. The arrival increased to 8000 bags as compared with arrival of 5000 bags. According to traders, other markets have discounted the speculation under which probability for extension of free wheat scheme was being assumed. But Delhi markets crashed Rs. 50 to Rs. 1820-1830 per quintal because Farmers and stockists trying to offload their respective stock, as soon as possible. Flour millers and other buyers abstained from the market.


Trade sources told us that the buyers prefer to wait till November-end, if the government happens to take decision on scheme extension. Any decision would have to be taken before 30th November. Therefore, the market is likely to remain choppy till end of November. Wheat prices in Rajasthan and Madhya Pradesh mandis remained stable because these mandis already discounted the rumour. But wheat prices lost Rs. 10-20 per quintal in Karpur and Bareilly.


Commodity

Type/Variety

26-Nov

25-Nov

Change

Delhi

Wheat

Mill quality

1820-1830

1870-1880

-50

Kota, Rajasthan

Wheat

Mill quality

1580-1610

1580-1610

0

Wheat

Duplicate Sharbati

1675-1725

1675-1725

0

Wheat

PD

1640-1700

1640-1700

0

Bundi, Rajasthan

Wheat

Mill quality

1560-1580

1560-1580

0

Wheat

Duplicate Sharbati

1675-1700

1675-1700

0

Wheat

PD

1670-1710

1670-1710

0

Baran, Rajasthan

Wheat

Mill quality

1580-1600

1580-1600

0

Wheat

Duplicate Sharbati

1675-1750

1675-1750

0

Rajkot, Gujarat

Wheat

Mill quality

1650-1675

1650-1675

0

Indore, (M. P.) Bilty

Wheat

Mill quality

1575-1600

1575-1600

0

Bhopal (M. P.) Loose

Wheat

Mill quality

1425-1450

1425-1450

0

Kanpur (U.P.)

Wheat

Mill quality

1600-1610

1620-1630

-20

Bareilly (UP)

Wheat

Mill quality

1640-1660

1650-1670

-10

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


       
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