Agri Business

Rice softens on sluggish demand

Our Correspondent Karnal | Updated on January 26, 2011

Sluggish demand is making it hard for rice traders to get good margins at current levels. After ruling flat for almost 10 days, rice prices dropped marginally from upper levels. The price of aromatic and non-basmati rice dropped by Rs 50-70 a quintal on Wednesday.

“There is not much buying in the market currently and prices are unlikely to see an uptrend this week,” said Mr Amit Chandna, Proprietor of Hanuman Rice Trading Company.

Though some overseas contracts have been signed, they are not supporting the market at any level, he added.

Pusa-1121 steam ruled at Rs 5,250 a quintal, Pusa-1121 sela at Rs 4,300-4,450 and Pusa-1121 at Rs 5,200.

Pusa (sela) ruled around Rs 3,200 and Pusa (raw) around Rs 4,200. Basmati sela quoted at Rs 5,700-5,750 and basmati raw at Rs 6,750.

The prices of brokens of 1121 variety were: Tibar was quoted at Rs 3,300-3,350, Dubar at Rs 2,330 and Mongra at Rs 1,620.

For the brokens of Sharbati variety, Tibar quoted at Rs 2,500, Dubar at 2,050 and Mongra, Rs 1,430.

Permal sela sold at Rs 1,800-2,100, while Permal steam sold at Rs 2,100-2,160 a quintal.

Sharbati sela sold at around Rs 2,650-2,680 and Sharbati steam around Rs 3,050 a quintal. Around 2,500 bags of PR sold between Rs 1,050 and Rs 1,070. About 3,000 bags of Sharbati ruled at Rs 1,600. About 4,000 bags of Sugandha-999 that arrived were quoted at Rs 1,500-1,580.

Around 1,500 bags of Pusa (duplicate basmati) quoted at Rs 2,000-2,250, around 12,000 bags of Pusa-1121 at Rs 2,000-2,480 and about 2,500 bags of pure basmati, Rs 2,200-2,600.

Published on January 26, 2011

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