Weekly Review-Paddy-Rice
31-Aug-2024 06:42 PM
Basmati Paddy Prices Continue to Fall - Rice Fluctuations
New Delhi. The production area of Kharif paddy has increased to around 400 lakh hectares, while its transplantation is still going on in some areas. Harvesting and preparation of the new crop will begin from October. Meanwhile, the early cultivated crop of 1509 Basmati paddy is being harvested in Uttar Pradesh, but its wholesale market price is going down. This has increased the concern of the farmers.
Delhi
During the week of August 22 to 28, the price of 1509 hand paddy in Delhi's Narela Mandi improved by Rs 68 to Rs 2200/2700 per quintal, while the price of 1509 combine remained stable at Rs 2100/2564. The price of HMT paddy improved by Rs 100 in Chhattisgarh's Bhatpara Mandi, but the price of Shriram paddy softened by Rs 100. There is limited arrival of paddy in Narela and Bhatpara. Supply of paddy is closed in most of the major mandis. Even in the mandis where there is some arrival, its price is seen to be soft. Traders, millers and exporters are showing very little interest in its purchase.
Rajasthan
In Bundi Mandi of Rajasthan, the prices of paddy number 1509 and 1718 improved by Rs 100 each, but a huge decline was recorded in Kota Mandi. There, the price of Sugandha fell to Rs 150, 1509 to Rs 400, 1718 also to Rs 400 and the price of Pusa Basmati paddy fell to Rs 500 per quintal. According to traders, the purchase of these varieties of paddy is decreasing very much.
Rice
As far as rice is concerned, there was no change in its price in important mandis like Bhatpara, Raichur and Amritsar, while there was a decline of Rs 25 in Rajim Mandi. In Bundi, the price of Sugandha rice was Rs 250 and that of 1509 was Rs 100 higher.
Haryana
But in Haryana's benchmark Karnal Mandi, the prices of some varieties of rice fell by Rs 100-200 per quintal. The price of RS 10 Sela rice fell by Rs 350 per quintal. In Delhi's Naya Bazar too, the prices of all varieties of rice remained stable at the old level amid sluggish business.
Export
Rice exporters feel that the central government can reduce the minimum export price of Basmati rice from the current level of $ 950 per ton to $ 800-850 per ton and remove the ban on export of white non-Basmati rice. If this happens, the pace of paddy-rice business can increase significantly. There is a good demand for Indian rice in the global market.