Informist, Thursday, Feb 1, 2024
By J Navya Sruthi
MUMBAI – Prices of mill-quality wheat fell today in the key markets of Kota, Rajasthan, because of low demand due to the availability of Bharat Atta in the market, traders said. Prices of rice were steady in the key wholesale markets, market participants said. Prices of maize were unavailable today.
Prices of mill-quality WHEAT in Kota, Rajasthan, were down by 50 rupees at 2,350-2,400 rupees per 100 kg, said Aniket Mehta, a local trader. “Prices fell today because of the auction and also Bharat Atta’s availability in (the) market,” he said.
The government on Wednesday sold 7.1 mln tn of wheat under the open market sales scheme, at its weekly electronic auction, according to a release by the consumer affairs department. The government had offered 10.15 mln tn of wheat for sale.
Further, to cool prices, under its open market sales scheme, the government sells subsidised wheat to central agencies at 21.50 rupees per kg or 2,150 rupees per 100 kg under the brand “Bharat Atta” scheme. The central agencies convert wheat into flour and sell it at a price of 27.50 rupees per kg, below the market price. It was launched on Nov 6.
Arrivals in Kota were down by 1,000 bags to 3,000 bags (1 bag = 60 kg), Mehta said. “(The) lower prices of wheat are unattractive to the farmers and so arrivals fell,” he said.
Prices of Sona Masoori variety of RICE were flat at 6,500 rupees per 100 kg in Bhavanipuram, Vijayawada, Ravi Shankar, a local rice trader, said. The government on Wednesday sold 162,000 tn of rice under the open market sales scheme at its weekly electronic auction, according to a release by the consumer affairs department. The Food Corp of India sold the highest quantity of rice under the Open Market Sale Scheme to private traders, it said.
End
Edited by Aditya Sakorkar
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