Spot prices of Essential Items Decline
Spot prices of wheat declined by 4.78 per cent as on July 20, 2006 compared to the prices on February 1, prior to the decision of the Government to import five lakh tonnes of wheat. Retail prices of wheat during the above period declined by nine per cent.
Retail prices of wheat remained steady during the period, July 13 to 20 as in the previous week at certain centres like Delhi (Rs. 10 per kg.), Lucknow ( Rs. 9.3 per kg.), Mumbai and Chennai (Rs. 14 per kg.), and Thiruvananthapuram (Rs. 16 per kg.).
Wheat futures prices stood at Rs. 829 per quintal on July 10, 2006 and Rs. 830 per quintal on July 18, but declined to Rs. 817 per quintal on July 20, 2006.
Retail prices of sugar as on July 20, 2006 remained unchanged from that prevailed during the previous week at many centres namely, Delhi and Thiruvananthapuram (Rs. 21 per kg), Lucknow (Rs. 22 per kg), Mumbai, (21.5 per kg) and Chennai (Rs.19.5 per kg). During the last one-week, retail prices of sugar registered a decline in prices at Shimla (2.22 per cent), Jaipur (2.38 per cent) and Bhopal (4.76 per cent).
On comparison of the prices as on July 20, 2006 with the prices on June 21 (prior to the decision of the government to import refined sugar at zero duty and effect a ban on export till the end of the current financial year) spot prices of sugar declined by 1.24 per cent and futures prices in the range of 1.24 to 5.75 per cent, except July contract which increased by 7.58 per cent. Retail prices declined by one rupee per kg.
The spot price of tur dal declined by 13.98 per cent and futures price by 17.76 per cent as on July 20, against that prevailed in early June prior to the decision taken by the government to import pulses at zero duty.
In case of gram dal, spot prices declined by 3.24 per cent and futures prices in the range of 11.69 per cent to 12.56 per cent. Retail prices have been steady.
As regards masoor dal, spot prices declined by 3.65 per cent and futures prices in the range of 4.44 per cent to 7.64 per cent.
In the case of urad dal, spot prices declined by 0.63 per cent and futures prices in the range of 3.66 per cent to 5.85 per cent for far-month contracts, but increased by 4.06 per cent for near-month contracts.
SBK:CP:spotprices(25.7.2006)
(Release ID :19030)