Wheat Gains In Rajasthan, Gujarat On Export Demand, New Arrival At One Lakh Bags In MP

NEW DELHI (Commodities control) Wheat prices gained in Rajasthan and Gujarat as exporters came back for new wheat. They were actively booking fresh deals for Kandla port delivery wheat purchases. The prices jumped Rs. 50 in Rajkot and up to Rs. 25 per quintal in Baran, Bundi and Kota mandis of Rajasthan. However, the prices remained stable in Madhya Pradesh where new arrival neared to one lakh bags. Wheat inched up Delhi but declined in Kanapur.

According to traders, exporters were buying new wheat at Kandla port. New wheat arrival began in Rajasthan mandis. Every major mandi is receiving arrival of 100-300 bags per day. The arrival will pick up after 15 March. So, exporters were buying wheat later delivery. New wheat of various varieties was traded today in Baran mandi at Rs. 1660-1800 per quintal. Export demand raised sentiments for old wheat also. Last season’s wheat also gained up to 50 per quintal in Rajkot. Old wheat priced higher up to Rs. 25 per quintal in Rajasthan mandis.

Wheat prices remained stable in MP mandis but the export demand improved market sentiments. Traders said that wheat arrival neared to about one lakh bags in MP. The prices was increasing however it was far away from the peak. Farmers were selling wheat in limited quantity just to meet their financial requirement. They were waiting for government procurement at higher MSP of Rs. 1975 per quintal. higher MSP was also supporting market sentiments. But weaker demand from flour millers due to lower sale of Atta, Maida and sooji did not allow the prices to increase in MP mandis. Wheat prices gained Delhi mandis but decreased in Kanpur.