Weekly Review-Paddy-Rice
05-Oct-2024 07:18 PM
Basmati Paddy Prices Strong Due to Good Demand from Millers and Exporters
New Delhi. Rice millers and exporters, encouraged by the abolition of the Minimum Export Price (MAP) of $950 per tonne on Basmati rice by the government, have started showing good interest in the purchase of Basmati Paddy in the markets, whereas except for 1509, the arrival of other varieties of Paddy is either zero or negligible.
Delhi
During the week from 25 September to 1 October, the price of 1509 hand paddy in Delhi's Narela Mandi increased by Rs 126 to Rs 1800/2876 per quintal, jumped by Rs 240 to Rs 2500/2810 per quintal in Amritsar, Punjab and increased by Rs 250 to Rs 2000/2450 per quintal in Etah, Uttar Pradesh.
Uttar Pradesh
In Jahangirabad of UP, the price of 1509 paddy was up by Rs 250 while in Aligarh it jumped by Rs 330 to Rs 1800/3045 per quintal but in Shahjahanpur it fell by Rs 100 to Rs 2000/2600 per quintal. Its price was high in Khair and Dibai too but in Tarawadi of Haryana its price fell by Rs 390 to Rs 2650/2860 per quintal. The arrival of general category paddy did not start till October 1 but now it has started in Haryana and Punjab. There is a possibility of increase in the arrival of other category Basmati paddy. This time there are chances of increase in production.
Rice
As far as rice is concerned, its business was seen to be sluggish and prices were stable in most of the mandis. The price of Swarna rice in Bhatpara Mandi improved by Rs 100 and reached Rs 2800/2900 per quintal.
Punjab / Amritsar
In Amritsar, the price was up by Rs 50, but the price of 1401 steam saw a fall of Rs 100. In Rajim Mandi, the price of different varieties of rice increased by Rs 50 to Rs 150 per quintal. In Haryana's benchmark Karnal Mandi, the price of rice was up by Rs 200, which clearly indicates strong demand from exporters / traders.
Delhi
In Delhi's Naya Bazar, the price of 1401 Sela rice fell by Rs 300 to Rs 6200/6500 per quintal and the price of 1718 Sela fell by Rs 100 to Rs 6300/6600 per quintal, but the price of Sharbati Steam increased by Rs 200 to Rs 4800/5200 per quintal.
Arrival
The season of arrival of new consignment of Kharif paddy has now started. The government has deregulated the import of rice, which is expected to further boost its purchase and sale. Export of white rice was banned from July 2023.