Weekly Review-Paddy-Rice

03-Aug-2024 06:45 PM

Paddy prices weak due to limited demand from millers and exporters

New Delhi. Due to sluggish demand from millers and exporters amid limited arrivals in major markets, the prices of paddy remained soft or stable during the week of 25-31 July.

Delhi / UP

Delhi's Narela market remained calm to a large extent and no special movement was seen there. On the other hand, the price of Shriram new paddy in Bhatpara Mandi of Chhattisgarh fell by Rs 200 to Rs 3300 per quintal and the price of number 1509 in Jahangirabad Mandi of Uttar Pradesh fell by Rs 100 to Rs 2300 per quintal. The price remained somewhat soft in Rajim. The same situation was also seen in Bundi, Rajasthan.

Export

In fact, tension has reached its peak due to Israel in the countries of West Asia, Middle East and Gulf region, due to which there is a possibility of Indian Basmati rice export getting stuck there. Countries like Iran, Iraq, Syria, Lebanon and Turkey have mobilized against Israel, due to which war between the two sides can break out anytime. A large quantity of Basmati rice is exported from India to these countries. During the week under review, the prices of 1121, PR 13 and Sharbati paddy in Shahjahanpur, UP, fell by Rs 100 per quintal.

Madhya Pradesh

The price of 1509 paddy in Dabra, Madhya Pradesh fell by Rs 510 to Rs 1700/2400 per quintal. Similarly, its price in Khair Mandi of UP fell by Rs 350 per quintal.

Rice

As far as rice is concerned, like paddy, its price also remained stable or soft to a large extent. The price of Vishnu Bhog rice in Bhatpara fell by Rs 200 to Rs 6300/6400 per quintal and the price of steam RNR broken in Raichur, Karnataka fell by Rs 250 to Rs 3150. The price of 1121 steam rice and 1401 Sela rice in Amritsar, Punjab fell by Rs 100 each.

Uttarakhand

In the Nagar Mandi of Uttarakhand, the prices of most varieties and categories of rice rose by Rs 100, but the price of 1121 steam rice fell by Rs 300 to Rs 8700 per quintal.

Haryana

There was no significant fluctuation in the price of rice in Haryana's benchmark Karnal Mandi, while the price of Sugandha steam rice in Delhi's Naya Bazar fell sharply by Rs 800 and got stuck at Rs 4700-5000 per quintal. Other rice also softened by Rs 100. On the other hand, in Nizamabad, UP, the price of most varieties of rice improved by Rs 100 per quintal.