Rice, wheat prices fall on grain market

RECORDER REPORT

KARACHI: Rice and wheat prices fell on the wholesale grain market on Wednesday in process of trading, experts said.

On the rice sector, due to falling demand on the export front, Irri-6 Sindh low type shed Rs 25 to Rs 2975 and the best quality dropped by Rs 50 to Rs 3000, Irri-9 Sindh low type did not show any change at Rs 4000 while the good type was up by Rs 500 to Rs 5500, Basmati/D-98 Shahdadkot low type fell by Rs 900 to Rs 5500 and good type was down by Rs 500 to Rs 6000, Super Basmati Punjab new low type lost Rs 1000 to Rs 6500 and superior quality was lower by Rs 800 to Rs 7000 and Basmati (broken rice) low type also fell by Rs 500 to Rs 4500 and best quality followed the same pattern, losing Rs 500 to Rs 5500, they said.

On the cereal side, wheat old and new Bardan shed Rs 10 to Rs 2690-2705, other commodities maintained the overnight levels, they said.

On the seeds counter cottonseed oilcake with bag Sindh low variety retained overnight level at Rs 650 while the best quality was higher by Rs 50 to Rs 850, they said. No change was seen on the grams side due to balanced demand and supply position, they said.