New Delhi. Due to reduced supply of Kharif paddy in major markets of key producing states and strong demand from rice millers/processors, prices, especially of the Basmati variety, registered a significant increase during the week of January 31-February 6. Demand for Indian rice in the global market has started to pick up again. Exports of Basmati rice to Muslim-majority countries are expected to increase, so exporters are trying to build up stocks as much as possible.

During the week under review, the Narela market in Delhi witnessed an average daily arrival of 8-10 thousand bags of paddy, and the price of 1509 Hand variety increased by Rs. 150 and Taj variety by Rs. 110 per quintal. The Najafgarh market saw a daily arrival of 2-3 thousand bags of paddy, while the price of 1121 Hand variety increased by Rs. 100 per quintal. In the Bhatapara and Rajim markets of Chhattisgarh, paddy prices remained almost stable with normal arrivals and limited trading.

In various markets of Uttar Pradesh - Etah, Mainpuri, Jahangirabad, Shahjahanpur, Aligarh, and Khair, etc. - the supply of paddy was regular, and strong demand from buyers led to a significant increase in prices.

In the Tarawadi market of Haryana, with a daily supply of 2-4 thousand bags, paddy prices improved by Rs. 100-200 per quintal. Meanwhile, the Kota and Bundi markets of Rajasthan witnessed heavy daily arrivals of 20-30 thousand bags and 30-40 thousand bags of paddy respectively, but strong buying by buyers led to a sharp increase in prices by Rs. 200 to 400 per quintal.

As far as rice is concerned, demand remains strong in West Asia and Africa. The depreciation of the rupee is making Indian rice quite attractive for foreign buyers.

Although the price of Shri Ram rice in Bhatapara decreased by ₹400 and Vishnu Bhog rice by ₹500 per quintal during the week under review, most other markets witnessed an increase of ₹100-200 per quintal. A significant decline in rice prices is unlikely in the near future. Basmati rice prices may see some improvement.