Weekly Review-Paddy-Rice

29-Jun-2024 08:26 PM

Paddy-rice prices fall due to weak demand from millers and exporters

New Delhi. Due to weak domestic and export demand, the price of rice softened a bit and hence millers and exporters showed less interest in buying paddy. Despite strong demand, the government is reluctant to open the door for export of white rice. The business of Basmati rice sometimes improves and sometimes slows down. During the week of 20 to 26 June 2024, the price of paddy in Delhi's Narela Mandi fell by about 50 to 150 rupees per quintal and 4-5 thousand bags of paddy arrived here daily. Mainly Basmati paddy is coming.

Haryana
The price of 1121 paddy and Basmati paddy in Tarawadi, Haryana improved by Rs 50-50 to Rs 4550 and Rs 4300 per quintal respectively. The off season of arrival of Basmati paddy is going on. In Chhattisgarh's Rajim Mandi, prices of different varieties of paddy showed a mixed trend but the range of ups and downs was limited. In Bundi, Rajasthan, the price of paddy fell by Rs 50. The same situation was seen in Shahjahanpur, Uttar Pradesh. But there, in Aligarh, the price of 1509 paddy fell sharply by Rs 600 and got stuck at Rs 2600 per quintal. About one thousand sacks of paddy arrived in the market daily. In Khair Mandi too, the price of 1509 fell by Rs 100 to Rs 2600 per quintal.

Rice

As far as rice is concerned, its prices also generally remained soft. Although in Amritsar, Punjab, the price of 1121 Sela rice improved by Rs 100 and reached Rs 8500/8600 per quintal, but the prices of other varieties of rice fell by Rs 50 to Rs 150 per quintal. The biggest decline was registered in the Uttarakhand market where the price of 1509 Sela rice fell by Rs 1400 from Rs 6800 per quintal to Rs 5400 per quintal. In Bundi, Rajasthan, the price of 1509 rice also fell by Rs 200 to Rs 6200/6250 per quintal.
Haryana
In Haryana's benchmark Karnal market, the price of most varieties of rice remained stable at the previous level, but the prices of Sugandha Sela and Taj Sela softened. There was a mixed trend in Delhi's Naya Bazar. There, the prices of 1121 steam and Sugandha Sela increased by Rs 100 each, while the prices of 1509 Sela, 1401 Sela and 1401 steam rice fell by Rs 100 each per quintal.
Sowing of Kharif paddy has already begun and by 28 June, the area under cultivation had reached over 28 lakh hectares which is almost equal to that of last year.