Monday’s unexpected rally has raised prices of aromatic and Sharbati rice by by Rs 200-500 a quintal while the prices of PR varieties are moderate.
Increase in the prices of aromatic and sharbati rice is also due to bulk buying by the rice millers.
The market experts express their concern that if this situation persists for long time Pusa1121 (steam) may even touch the Rs 10,000 a quintal mark in the coming days.
In the physical market, Pusa1121 (steam) moved further up by Rs 500 and sold at Rs 9,200-9,300, while Pusa1121 (sela) improved by Rs 300 to Rs 8,100 .
The stocks in the warehouses are not enough that they can carry the demand and the fresh stock is not ready yet.Also the demand from overseas is good.
Pure Basmati (Raw) went up by Rs 200 to Rs 12,700 . Duplicate basmati (steam) sold at Rs 7,300 , Rs 300 up.
In the non-basmati section, Sharbati (Steam) was up by Rs 400 at Rs 5,500-5,700, while Sharbati (Sela) quoted at Rs 5,200 , Rs 300 up.
Permal (raw) sold at Rs 2,350-2,400, while Permal (sela) was at Rs 2,400. PR-11 (sela) sold at Rs 3,100 while PR-11 (Raw) quoted at Rs 3,000-3,100.
PR14 (steam) sold at Rs 3,400 .
About 40,000 bags of PR paddy arrived and quoted at Rs 1,350-1,500 , around 40,000 bags of Pusa-1121 arrived and sold at Rs 3,750-4,400 , while 10,000 bags of Sharbati arrived and sold at Rs 2,400-2,550 . Around 10,000 bags of Duplicate Basmati arrived and went for Rs 4,000-4,200 , while 1,000 bags of Pure Basmati sold at Rs 5,600-5,900 a quintal.