Agri Business

50% jump in basmati paddy rates

PTI Chandigarh | Updated on October 28, 2013 Published on October 28, 2013

Basmati farmers are getting better returns despite there being some loss in quality and yield due to untimely rains.

In contrast to paddy farmers getting lower rates due to discoloration, basmati growers have witnessed over 50 per cent jump in price for their produce in the ongoing kharif marketing season in Punjab and Haryana.

Aromatic varieties of basmati paddy are fetching Rs 3,200 to 3,900 per quintal as against Rs 2,200 to Rs 2,500 per quintal last year, traders said.

“This season, farmers are getting better returns for basmati crop despite there being some loss in quality and yield due to untimely rains,” rice exporter Vijay Setia, Director, Chaman Lal Setia Export Limited said today.

“There is an upswing in prices of all kinds of basmati varieties this year on the back of strong demand,” he said.

Popular basmati varieties like Pusa 1121 and 1509 are commanding price between Rs 3,600 to Rs 3,900 per quintal as against rate of Rs 2,400-2,500 per quintal that prevailed last year.

Pusa 1121 variety of paddy constitutes almost 70-80 per cent of area under cultivation in basmati growing areas of Punjab and Haryana because of its rising export demand in countries like Iran, Saudi Arabia, Middle East, Europe etc.

Both Punjab and Haryana account for over 60 per cent in country’s basmati exports.

Paddy growers especially in Punjab during this season claimed to have suffered losses as they were forced to sell ordinary varieties of crop at lesser rate than MSP due to high moisture content and crop discoloration.

As part of crop diversification programme, area under basmati this season rose in Punjab and Haryana.

To boost basmati cultivation, the Punjab government has even decided to waive off Rural Development Fee (RDF) and market fee on basmati variety of paddy in the state.

Exporters said outbound shipment of basmati this fiscal is likely to touch 4 million tonnes as against 3.6 million tonnes achieved last fiscal.

Published on October 28, 2013
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