Weekly Review-Paddy-Rice

07-Dec-2024 07:57 PM

Paddy prices soften due to increased arrival in the markets


Weekly Review: Paddy and Rice Prices (28 November - 4 December 2024)

Paddy Prices: Softening Due to Increased Arrivals

Paddy prices have softened by Rs 100-200 per quintal during the week due to increased arrivals from major producing states.

  • Delhi:
    The arrival of paddy in Narela Mandi increased to 80,000 sacks on 28 November but later fell to 35-40 thousand sacks.

    • The price of 1718 paddy rose by Rs 200, reaching Rs 3550 per quintal.
    • The price of Sugandha paddy dropped by Rs 125, settling at Rs 2400 per quintal.
    • In Najafgarh Mandi, daily arrivals of 10-15 thousand sacks continued, contributing to price softening.

  • Chhattisgarh:
    In Bhatpara and Rajim Mandis, paddy prices dropped by Rs 25-50 amid steady arrivals.

  • Punjab (Amritsar and Tarn Taran):

    • In Amritsar, the price of 1121 paddy decreased by Rs 215, falling to Rs 3600-4150 per quintal.
    • In Tarn Taran, 28-30 thousand bags were supplied, with mixed price trends.

  • Uttar Pradesh:

    • In Etah Mandi, paddy prices fell by Rs 100-150 per quintal.
    • Similar trends were observed in Mainpuri and Jahangirabad, while prices in Shahjahanpur, Aligarh, Khair, and Kaushambi remained soft due to large arrivals.

Rice Prices: Weak Demand with Export Activity Supporting Prices

Rice prices showed mixed trends, with weaker demand in some markets, although exporter activity helped maintain some price stability.

  • Karnataka (Raichur):
    Prices fell by Rs 100-300 per quintal, with some varieties seeing a large drop of up to Rs 700 per quintal.

  • Punjab (Amritsar):
    Rice prices decreased by Rs 100-250 per quintal.

  • Delhi (Naya Bazar):

    • The price of 1509 Sela rice increased by Rs 200, reaching Rs 5600-5800 per quintal.
    • 1401 steam rice prices dropped by Rs 300, staying between Rs 6300-6500 per quintal.
    • Other varieties saw a decline of Rs 100-200.

Outlook: With the opening of non-basmati rice exports by the government, global demand remains strong, potentially leading to improved prices in the near future.

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