Wheat prices gain; Rice, Poultry end low
Karnal: Good consumer demand coupled with restricted arrivals in the market pushed wheat prices upwards while the Rice and Poultry products market ended on a mixed note last week.
In the physical market, dara wheat and flour prices improved by Rs 15 and Rs 10 a quintal, respectively, on account of an increase in demand and restricted arrivals. Dara wheat ruled firm at Rs 1,555-1,560 a quintal while flour at Rs 1,760-1,770 a quintal.
On the National Commodity and Derivatives Exchange, wheat for March contracts ended up with a positive note following huge positions created by the speculators. Similarly, wheat spot market remained supportive and went up by Rs 36.5, last week.
On Thursday, government allowed private traders to export upto 5 million tonnes of wheat. But experts expect that private traders may not show much interest because wheat prices have been falling in global market and the prices offered by the government is too high.
External Affairs Minister Salman Khurshid arrived in Jeddah to hold talks with the Saudi Arabian leadership on a range of issues, including the controversial �Nitaqat law�, and counter-terrorism cooperation.
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