Prices of aromatic rice varieties are ruling unchanged as exporters have been unable to sign new contracts with overseas buyers. In addition, consumption in the domestic market has been slack.
Demand for full grain aromatic rice is not picking up, said Mr Tara Chand Sharma, proprietor of Tara Chand and Sons. Exporters have not signed new export contracts in the recent past and these are the old contracts which are being executed at present, he said.
Traders expect exporters to sign new contracts in October and November as arrivals of new crop may start by mid September, said Mr Sharma. Any major change in the prices of aromatic varieties is unlikely in the near future, he added.
In the physical market, Pusa-1121 (steam) quoted at Rs 5,750-5,800 a quintal, while Pusa-1121 (sela) sold at Rs 4,800-4,850. Pure Basmati (raw) quoted at Rs 5,450-5,500, while pure basmati (sela) ruled at around Rs 5,000 a quintal.
For the brokens of Pusa-1121, Tibar sold at Rs 3,800, Dubar at Rs 2,800-2,900 and Mongra at Rs 2,100-2,300, a quintal.
Duplicate basmati quoted at Rs 4,500 while Sugandha (steam) was at Rs 3,700 a quintal.
On the other hand, after witnessing a good uptrend earlier this week, prices of non basmati varieties remained range bound. Non basmati varieties may witness some alteration next week, said Mr Sharma.
PR-11 (sela) sold at 2,500-2,800, PR-11 (Raw) was at Rs 2,400-2,650 a quintal, Permal (raw) sold at Rs 2,000-2,400 a quintal while Permal (sela) went for Rs 2,370. PR-14 (steam) went for Rs 2,800-2,920 a quintal.
Sharbati (steam) quoted at Rs 3,700-3,750 a quintal, while Sharbati (sela) sold at Rs 3,400 a quintal.