Inadequate supplies and rising domestic demand pushed up rice prices by Rs 50-400 a quintal up, which were at their highest levels of the season on Monday.
Amit Chandna, Proprietor, Hanuman Rice Trading Company, said that the uptrend was anticipated as domestic demand had started picking up.
Low availability of stocks is also a big reason behind the uptrend, he added. The market may hold its position for the next few days, and if supplies don’t improve, prices may go further up, said Chandna.
In the physical market, Pusa-1121 (steam) went up by Rs 100 and sold at Rs 7,600 a quintal while Pusa-1121 (sela) quoted at Rs 6,600, Rs 125 up.
Pure basmati (raw) quoted at Rs 8,500-8,550. Duplicate basmati (steam) increased by Rs 200 and traded at Rs 6,400-6,500.
Similarly, non-basmati prices went up on buying. Prices of Sharbati (steam) improved by Rs 100 and quoted at Rs 4,900-5,000, while Sharbati (sela) was at Rs 4,650, Rs 50 up.
PR-11 (sela) increased by Rs 300 to Rs 3,100 while PR-11 (raw) quoted at Rs 2,800-2,900, Rs 100 up. Permal (raw) and Permal (sela) varieties went up by Rs 100 each and sold at Rs 2,350 and Rs 2,300, respectively.
Brokens of Pusa-1121 rose: Dubar increased by Rs 400 and quoted at Rs 3,200, Tibar by Rs 300 and sold at Rs 4,300, while Mongra was at Rs 2,500 a quintal, Rs 100 up.
About 2,000 thousand bags of PR variety arrived and sold at Rs 1,325 a quintal. Around 3,000 bags of Sharbati arrived and quoted at Rs 2,250. The 1,000 bags of duplicate basmati that arrived sold at Rs 3,600. About 5,000 bags of Pusa-1121 arrived and quoted at Rs 3,750.