Basmati rice exporters expected to benefit from fall in paddy prices

07-Aug-2024 11:41 AM

New Delhi. In Uttar Pradesh, the average price of Basmati paddy with more than 15% moisture during the current year is seen between Rs 2200/2300 per quintal, whereas last year its price had reached above Rs 3000 per quintal.

Due to less interest of millers and exporters, farmers are forced to sell their paddy at lower prices. It is worth mentioning that in India,

the new crop of Basmati paddy comes first in Uttar Pradesh because Pusa 1509 Basmati is cultivated the most there, whose maturity period is relatively short. This paddy is planted in UP before Punjab-Haryana.

With the fall in the price of Basmati paddy, rice exporters are expected to get relief and help in successfully facing the competition of cheap rice from Pakistan.

The farming community says that last year the price of Basmati rice had risen to Rs 3200 per quintal and the price was expected to remain around the same in the current year as well.

In Shamli district of UP, Pusa 1509 rice was harvested in mid-May and it is expected to be harvested in the next 15 days.

This time due to lack of rain, the yield rate of Basmati rice is likely to fall by 20-25 percent and it will not exceed 3 quintals per bigha (about 6 bighas = 1 acre).

Last year the yield rate was higher than 4 quintals per bigha. The same situation is being seen in Shamli and Aligarh districts.

The price of Basmati rice was recorded at Rs 2500 per quintal in Khair Mandi. Traders in the mandis are not taking much interest in the auction.

During the first 5 days of August, the price of Basmati rice in various mandis of Uttar Pradesh was between Rs 2100 and Rs 2600 per quintal.