Lack of buying interest at all levels pulled aromatic rice varieties down by Rs 50-200 a quintal on Monday. While the steady demand for non-basmati and brokens of 1121 kept prices unchanged.

Amit Kumar, proprietor of Ginni Rice, told Business Line that bulk buyers and retail traders are out of the market as aromatic varieties are likely to decrease further in the coming days. Rice mills and stockists are selling at lower margins as they want to evacuate their inventories before the new season begins, he said. On the other hand, demand for non-basmati varieties and brokens of aromatic varieties is good, supporting the market and prices may rule firm for next few days, he said.

In the physical market, Pusa-1121 (steam) went down by Rs 100 and quoted at Rs 5,900 while Pusa-1121 (sela) sold at Rs 4,800, Rs 200 down from the previous level.

Pure basmati (raw) eased by Rs 150 and quoted at Rs 6,400 while pure basmati (sela) sold at Rs 4,800, Rs 100 down from the previous level.

Prices of duplicate basmati decreased by Rs 50 and traded at Rs 4,750.

For the brokens of Pusa-1121, Tibar sold at Rs 3,250; Dubar Rs 2,800 and Mongra Rs 2,400.

Sharbati (steam) quoted at Rs 3,900 while Sharbati (sela) quoted at Rs 3,770. PR-11 (sela) sold for Rs 2,650 while PR-11 (raw) quoted at Rs 2,550.

Permal (raw) sold at Rs 2,200-2,250 while Permal (sela) went for Rs 2,300.

Paddy Arrivals

Arrivals of paddy varieties may start around mid-October. Around 8,000 bags of PR variety arrived at the Karnal grain market terminal. Much remained unsold as the moisture level was on the higher side while rice millers lifted some at Rs 1,120-1,240.

(This article was published on September 17, 2012)
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