Paddy prices firm despite rising supplies; sharp rise in rice prices too
New Delhi: While robust arrivals of new paddy are taking place in numerous markets, rice millers and traders are making substantial purchases. Tremendous demand is also being witnessed for rice. During the week of September 26 to October 2, a significant increase of ₹600–700 per quintal was recorded in the prices of paddy and rice.
Arrivals
Daily paddy arrivals were recorded as follows: 30,000–40,000 bags in Delhi's Narela market and 2,500 bags in Najafgarh; 3,000–4,000 bags and 2,000–3,000 bags in Chhattisgarh's Bhatapara and Rajim markets, respectively; 80,000–90,000 bags in Amritsar, 70,000–80,000 in Tarn Taran, and 5,000–7,000 in Fazilka (Punjab); 15,000 bags in Mainpuri, 28,000–35,000 in Jahangirabad, 50,000 in Shahjahanpur, 50,000–60,000 in Aligarh, and 50,000–60,000 in Khair (Uttar Pradesh); 10,000–15,000 bags in Gohana (Haryana); and 2,000 bags in Gondia (Maharashtra). Notably, there was a high supply of '1509 Combine' paddy; robust trading activity for this variety led to a significant rise in prices.
Rice
In the Raichur market of Karnataka, a sharp increase of ₹400 to ₹800 per quintal was observed in the prices of various rice varieties and grades. Low stocks and the likelihood of reduced rice production are coinciding with strong demand.
Punjab / Amritsar
An increase of ₹100 to ₹550 per quintal in rice prices was also recorded in Amritsar, Punjab. There are indications of improving domestic and export demand for Basmati rice. However, the movement of ships through the Strait of Hormuz is still not considered safe.
Uttarakhand
Rice prices remained steady in the Mandi market of Uttarakhand, whereas the benchmark Karnal market in Haryana witnessed robust trading, with prices rising by ₹500–600 per quintal. The Gondia market also remained stable. There are indications of a significant increase in non-basmati rice exports.
