New Delhi: The peak season for the supply of Basmati and 'A' grade paddy in the major producing states of the country is nearing its end, while prices are fluctuating in line with purchases by millers, processors, and exporters. Rice export performance is satisfactory, and the Indian rupee exchange rate remains favorable for rice exports. Demand for Basmati rice is expected to pick up soon in Muslim-majority countries of West Asia, Central Asia, and the Gulf region due of the upcoming Ramadan season.

Most of the common variety paddy is being procured by government agencies from farmers at the Minimum Support Price (MSP), while Basmati paddy is being purchased by the industry and trade sector, as there is no MSP fixed for it, and government agencies do not usually procure it.

During the week of December 27th to January 2nd, daily paddy arrivals in Delhi's Narela market were recorded at 10-20 thousand bags and in Najafgarh market at 5-7 thousand bags, but prices softened due to weak trading. In Chhattisgarh's Bhatapara and Rajim markets, daily arrivals of 1000-1200 bags of paddy were recorded, but prices remained stable with limited trading.

There were no paddy arrivals in Punjab's markets – Amritsar, Fazilka, and Tarn Taran – but in various markets of Uttar Pradesh, especially Etah, Mainpuri, Jahangirabad, Shahjahanpur, Aligarh, and Khair, good arrivals and better trading led to fluctuations in paddy prices. In Haryana's Tarawadi market, the price of 1121 paddy fell by Rs. 300 and Sugandha paddy by Rs. 200 per quintal.  Rajasthan's Kota and Bundi markets saw strong paddy arrivals, and prices remained soft or stable. 

Rice prices remained stable at previous levels in most markets/trading centers. Trading activity was observed to be somewhat sluggish. In Amritsar, prices for two or three varieties of rice were weaker by ₹100-150. The market in Nagar, Uttarakhand, remained quiet, but in Bundi, Rajasthan, rice prices were higher by ₹100-150. Trading was slow in Delhi's Naya Bazaar.