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The rice market is unlikely to see any major change in the next few days. The market may continue to rule around the current levels with marginal fluctuation, said trade experts.
A mixed trend was seen in the rice market with Pusa-1121 varieties rising by Rs 100-200 a quintal, while other aromatic and non-basmati varieties remained unchanged on moderate buying.
Amit Kumar, proprietor of Ginni Rice, told Business Line that the uptrend in Pusa-1121 is unjustified as it is not backed by fundamental factors. Prices of Pusa-1121 varieties increased by Rs 500-700 a quintal over the last 4 days.
Traders see this situation as a temporary phase and expect the market to see a correction in the coming days, he said.
In the physical market, Pusa-1121 (steam) moved up by Rs 200 to Rs 9,200 a quintal, while Pusa-1121 (sela) improved by Rs 100 to Rs 8,100.
Pure Basmati (raw) quoted at Rs 12,500. Duplicate basmati (steam) was sold at Rs 7,000.
Pusa-1121 (second wand) was quoted at Rs 7,000, Tibar at Rs 6,000, while Dubar at Rs 5,000.
In the non-basmati section, Sharbati (steam) was sold at Rs 5,000, while Sharbati (sela) was quoted at Rs 4,800. Permal (raw) was sold at Rs 2,300; Permal (sela) at Rs 2,350; PR-11 (sela) was sold at Rs 2,900; PR-11 (raw) at Rs 2,800; and PR14 (steam) at Rs 3,200.
Paddy Arrivals
About 8,000 bags of different paddy varieties arrived at the Karnal Grain Market Terminal. About 4,000 bags of Pusa-1121 arrived and were sold for Rs 4,100-4,200; 1,000 bags of Sugandha 999 were sold at Rs 2,600; 2,000 bags of PR at Rs 1,300-1,330; while 1,000 Sharbati bags were sold for Rs 2,200-2,220.
Reuters reports: In other Asian markets, Thai 5 per cent broken grade white rice was offered unchanged from last week at $420 a tonne.
Vietnam 5 per cent broken rice eased to $410 to $415 a tonne, free-on-board basis, from $415 to $420 in the last week of December.
Its 25-per cent broken rice was quoted at $385 a tonne, against a range of $385 to $390 on December 25.
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