Lack of buying interest at all levels pulled aromatic and non-basmati rice prices down by Rs 25-400 a quintal on Thursday.
Mr Amit Kumar, proprietor of Ginni Rice, told Business Line that weak export demand and tepid domestic demand pulled rice down. Traders have adequate stocks and they do not want to take fresh position as prices are decreasing continuously, he added. Traders want to evacuate their stocks as the new crop will arrive in the market in September, said Mr Amit. The market is likely to rule range-bound for the next few days, he added. In the physical market, Pusa-1121 (steam) eased marginally by Rs 25 at Rs 6,200-6,275 and Pusa-1121 (sela) sold at Rs 5,200-5,300.
Pure basmati (raw) went down by Rs 50 at Rs 6,650 while pure basmati (sela) sold at Rs 5,300 a quintal.
Prices of duplicate basmati decreased Rs 150 at Rs 4,700 a quintal.
Brokens of Pusa-1121, Tibar went down by Rs 400 and sold at Rs 3,200; Dubar down by Rs 100 at Rs 2,700a quintal.
Sharbati (steam) remained unchanged at Rs 3,850 while Sharbati (sela) eased by Rs 100 at Rs 3,700.
Prices of PR-11 (sela) went down by Rs 250 and sold for Rs 2,650 while PR-11 (Raw) Rs 2,550. Permal (raw) sold at Rs 2,200-2,250 while Permal (sela) went for Rs 2,300.
Around 7,000 bags of Sathi variety arrived at the Karnal Grain Market Terminal and sold at Rs 1,150-1,240 a quintal.