Low availability of stocks coupled with improved domestic demand pushed a few aromatic and non-basmati rice prices upwards on Friday. Arrivals of the new rice crop have been sluggish in this season so far and that pushed prices upwards because rice mills are left with low carry-forward stocks this year, said Tara Chand Sharma, proprietor of Tara Chand and sons. Traders expect that the rice prices may increase further in the near future, he added.

Paddy arrivals have also dropped to just around 50,000 bags at the Karnal grain market terminal due to festival days, said Sharma. A very few farmers arrived with their produce from the Uttar Pradesh because of the festivals over the last 4 days, he added. Arrivals may increase in the upcoming days.

In the physical market, Pusa-1121 (steam) went up by Rs 100 and sold at Rs 5,700-5,800 a quintal while Pusa-1121 (sela) sold at Rs 4,850, Rs 50 up from the previous level. Price of pure basmati (raw) increased by Rs 500 and quoted at Rs 6,500-6,600 while pure basmati (sela) sold at Rs 5,400-5,500, Rs 400 up from the previous level. Duplicate basmati (steam) traded at Rs 4,750-4,800. Prices of PR-11 (sela) sold at Rs 2,500-2,600 while PR-11 (Raw) quoted at Rs 2,500. Permal (raw) sold at Rs 2,000-2,200 while Permal (sela) went for Rs 2,200-2,275. Sharbati (steam) went up by Rs 50 and quoted at Rs 3,750 while Sharbati (sela) quoted at Rs 3,400, Rs 100 up from the previous level.

(This article was published on November 16, 2012)
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