Wheat Eases in Rajasthan Due To Quality Issues, But Gains In Rajkot

NEW DELHI (Commodities control) Mixed trend prevailed in wheat prices in mandis of producing states. The prices eased in Rajasthan due to poor quality, but wheat gained in Rajkot mandi of Gujarat. The prices remained stable in Madhya Pradesh, but fell down in Kanpur and Delhi. New arrival crossed the mark of one lakh bags in MP mandis. New wheat arrival was about 1000 bags in Rajasthan mandis.

According to traders in Rajasthan, old wheat quality was now up to the standard so buyers were lowering buying prices. However, they were buying old wheat as it will be better for consumption in next few months. Wheat prices slipped up to Rs. 15 per quintal in Kota and Bundi. New wheat was traded bearish at Rs. 16509-1780 per quintal. New arrival was around 1000 bags from early wheat crop. New wheat also lost Rs. 20 per quintal due to higher moisture and other quality issues.

But Rajkot mandi noted increase of Rs. 20 per quintal in mill quality wheat prices as export demand was better. They have begun purchase of Kandla port delivery new wheat. Exporters were buying wheat at about Rs. 1910 per quintal (net price for Ex-Kandla).

New wheat arrival increased over one lakh bags in MP mandis. But the prices were noted at previous level. Local millers, stockists, southern buyers and exporters were buying wheat at they consider current prices very attractive. Now, old wheat arrival reduced to negligible and new arrival became dominant. Old what eased down in Delhi and Kanpur due to limited demand and bearish sentiments due to new arrival in neighbouring states.