Another downtrend was seen in the rice market on Thursday as prices of aromatic and sharbati varieties dropped by Rs 100-500 a quintal on lacklustre trading.

Ample stocks coupled with low trading pulled rice prices down, said Mr Amit Chandna, Proprietor of Hanuman Rice Trading Company. Bulk buyers are out of the market at present and small traders are also buying in limited quantity, he added.

The downtrend was anticipated as the market has seen some unjustified rallies in the last couple of months and trade is not getting enough support on the export front too, said Amit.

In the physical market, Pusa-1121 (steam) eased further by Rs 500 and quoted at Rs 6,500-6,600 while Pusa-1121 (sela) sold at Rs 5,700, down Rs 300 from previous level.

Pure basmati (raw) slid by Rs 100 and quoted at Rs 6,830 a quintal while pure basmati (sela) sold at Rs 5,400, down Rs 150 from previous level.

Duplicate basmati decreased by Rs 250 and traded at Rs 5,000 a quintal. Tibar was sold at Rs 3,800; Dubar at Rs 2,800-3,050 and Mongra at Rs 2,100-2,500.

Sharbati (steam) eased by Rs 175 and quoted at Rs 4,000 and Sharbati (sela) went down by Rs 100 and quoted at Rs 3,900 a quintal.

PR varieties continued to rule flat at their previous levels. PR-11 (sela) was at Rs 2,950 while PR-11 (Raw) was at Rs 2,700. Permal (raw) sold at Rs 2,250-2,350 a quintal while Permal (sela) went for Rs 2,300-2,400.

Paddy Arrivals

Around 5,500 bags of Sathi variety arrived at the Karnal Grain Market Terminal and sold at Rs 1,150-1,200 a quintal.

(This article was published on August 16, 2012)
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