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Aromatic rice gains steam on demand hopes

Our Correspondent
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The rice market witnessed a mixed trend on Monday. Prices of aromatic and sharbati varieties witnessed an uptrend while PR varieties declined on reduced offtake.

Expectations of an increase in demand pushed aromatic and sharbati varieties upwards, said Amit Chandna, proprietor of Hanuman Rice Trading Company. While slack demand coupled with the arrivals of new rice in the market dragged PR varieties down, he added.

“It is unlikely to see any major alteration in the prices of aromatic and non basmati rice this week,” said Amit Chandna.

In the physical market, Pusa-1121 (steam) went up by Rs 300 and sold at Rs 6,300-6,400 a quintal while Pusa-1121 (sela) sold at Rs 5,350 , Rs 50 up.

Pure basmati (raw) improved by Rs 250 and quoted at Rs 7,250 while pure basmati (sela) sold at Rs 6,600 a quintal, up Rs 100. Duplicate basmati (steam) traded at Rs 5,000-5,100.

On the other hand, PR-11 varieties eased by Rs 100, PR (sela) sold at Rs 2,450-2,550 while PR-11 (Raw) quoted at Rs 2,500. Price of Permal (raw) went down by Rs 50 and sold at Rs 2,050-2,200 while Permal (sela) went for Rs 2,100-2,200 , Rs 100 down.

Sharbati (steam) improved by Rs 200 and quoted at Rs 4,000 while Sharbati (sela) was at Rs 3,900 , up Rs 400.

Paddy Arrivals

About 15,000 bags of PR variety arrived and went for Rs 1,150-1,200 a quintal, Sharbati arrived with a stock of around 5,000 bags and quoted at Rs 1,750-1,850 , around 5,000 bags of DB variety arrived and sold at Rs 2,550-2,800.

About 20,000 bags of Pusa-1121 arrived and quoted at between Rs 2,750 and Rs 3,000, pure basmati paddy arrived with a stock of around 3,000 bags and sold at Rs 3,200-3,600.

(This article was published on December 10, 2012)
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