Weekly Review-Paddy-Rice

19-Jul-2024 06:19 PM

Rice prices strong despite limited demand

New Delhi. The Central Government has announced to sell rice with a reserve price of Rs 2800 per quintal under the Open Market Sale Scheme, while its retail sale under the brand name Bharat is already going on. There is ample stock of rice in government warehouses. It seemed that the government could decide to open the export of white Basmati rice, impose a fixed amount of duty instead of 20 percent on Sela rice and reduce the minimum export price of Basmati rice from the current level of $ 950 to $ 800-850 per ton. A meeting of the Committee of Ministers was also going to be held to consider these issues, but no concrete indication has come out yet. This created a perception of softness in the market.

Delhi

But during the week of July 11-17, the price of paddy-rice was seen to be somewhat strong. The price of 1509 hand paddy increased by Rs 97 in Delhi's Narela Mandi. In Bhatpara of Chhattisgarh, the price of Shriram new paddy increased by Rs 200 but the price of Vishnu Bhog new paddy fell by Rs 100.

Uttar Pradesh

In Jahangirabad of Uttar Pradesh, the price of 1509 Hand and Sharbati paddy increased by Rs 100 each. In Bundi of Rajasthan, the price of 1509 paddy increased by Rs 100. In Dibai of UP also it increased by Rs 200 per quintal.

Rice

As far as rice is concerned, its price was seen strong due to relatively better business. In Bhatpara, the price of Vishnubhog rice jumped by Rs 500 to Rs 6600 per quintal and Swarna increased by Rs 100 to Rs 2800 per quintal.

Rajasthan

In Bundi, Rajasthan, the price of 1121 Basmati rice fell by Rs 100 to Rs 7800/7850 per quintal, but the price of 1509 rice increased by Rs 200 and the price of 1718 Sela rice increased by Rs 150.

Haryana

In Haryana's benchmark Karnal Mandi, the price of 1121 Sela rice and 1509 Sela rice increased by Rs 200 each to Rs 8100 per quintal and Rs 6400 per quintal respectively. In Delhi's Naya Bazar, the prices remained stable amid limited trading.