Weekly Review-Paddy-Rice
28-Dec-2024 08:27 PM
Limited fluctuations in the price of paddy due to increased arrival in major mandis
Weekly Review: Paddy & Rice Market (21-27 December)
Paddy Market Trends: The price of paddy remained relatively stable during the week of 21-27 December, influenced by a steady arrival of Kharif paddy in major mandis and consistent purchasing activity from millers, traders, stockists, and exporters. There was no significant imbalance between supply and demand, leading to limited price fluctuations.
Delhi: In Narela Mandi, 18,000 to 30,000 bags of paddy arrived daily. The price of 1718 paddy saw a decline of Rs 100, dropping to Rs 2800-3200 per quintal. Najafgarh Mandi saw arrivals of 1,500-3,000 bags daily, with prices holding steady. Bhatpara Mandi in Chhattisgarh experienced a slight fluctuation of Rs 100, while Rajim Mandi’s price remained stable despite 1,500-3,500 bags arriving.
Uttar Pradesh: Mandi arrivals were substantial in Etah (10,000 bags), Mainpuri (10-20,000 bags), and Jahangirabad (10-15,000 bags), but prices remained stable overall. In Aligarh, the price of 1718 paddy decreased by Rs 120 to Rs 3110 per quintal, with 20,000-30,000 bags arriving daily. Khair Mandi also maintained stable prices, with 8,000-10,000 bags arriving.
Rice Market Trends: Rice prices experienced minimal fluctuations, reflecting the stable paddy market. Notable price changes were seen in certain areas.
Karnataka/Punjab: In Raichur, Karnataka, rice prices remained stable. However, in Amritsar Mandi, Punjab, there were price declines for several varieties, including Rs 200 for 1509 steam and 1718 sella rice, and Rs 50 for 1121 sella and 1401 steam rice. This slight reduction comes despite strong demand for Indian Basmati rice in international markets.
Rajasthan/Haryana: In Bundi, Rajasthan, Sugandha rice saw a reduction of Rs 150 to Rs 4575-4600 per quintal. However, in Karnal, Haryana, the price of Sharbati Sela rice increased by Rs 100 to Rs 4300 per quintal. Prices remained stable in Naya Bazar, Delhi.
Outlook: The domestic rice market is showing some softness in prices, particularly in Punjab, while demand for Indian Basmati rice remains strong internationally despite challenges like the situation with Iran. Meanwhile, the steady supply of paddy and rice across key mandis suggests that price volatility may remain low in the near term.