Another downtrend was seen in the rice market on Monday as prices of aromatic and non basmati varieties dropped further by Rs 50-300 a quintal on lacklustre trading.

Amit Chandna, Proprietor of Hanuman Rice Trading Company, told Business Line that market sentiments are low with a fear of drop in price in near future. Bulk buyers are out of the market and they are waiting for prices to stabilise . In the physical market, Pusa-1121 (steam) eased further by Rs 300 a quintal and quoted at Rs 6,200-6,300 while Pusa-1121 (sela) sold at Rs 5,500 – Rs 200 down from previous level.

Pure basmati (raw) went down by Rs 120 to Rs 6,700 while pure basmati (sela) sold at Rs 5,300 – Rs 100 down from previous level. Tibar was sold at Rs 3,600; Dubar at Rs 2,800 and Mongra at Rs 2,100-2,200 a quintal.

Sharbati (steam) eased by Rs 150 to Rs 3,850 and Sharbati (sela) went down by Rs 100 to Rs 3,800.

(This article was published on August 20, 2012)
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