Commodities

Aromatic rice gains as floor price on exports goes

Our Correspondent Karnal | Updated on July 09, 2012 Published on July 09, 2012

BL10_RICE

The Government’s decision to abolish the minimum export price for aromatic rice varieties has started showing its effects in the domestic market as well.

Prices of aromatic varieties went up Rs 100-300 a quintal on Monday while non-basmati varieties remained range bound.

Mr Amit Chandna, Proprietor of Hanuman Rice Trading Company, told Business Line that aromatic prices have increased after the Government’s statement of removing floor prices for aromatic rice. It is unlikely to see any major uptrend in the prices of aromatic varieties as the domestic demand is still not picking up.

In the physical market, Pusa-1121 (steam) went up Rs 100 and quoted at Rs 5,850-5,900 a quintal, while Pusa-1121 (sela) sold at Rs 4,900-5,000.

Pure basmati (raw) increased by Rs 100 and quoted at Rs 5,550-5,600, while pure basmati (sela) ruled at Rs 5,125 a quintal, Rs 125 up. Duplicate basmati, witnessed the major spike, went up Rs 300 and quoted at Rs 4,800-4,900. For the brokens of Pusa-1121, Tibar sold at Rs 3,400, Dubar at Rs 2,800-2,900 and Mongra at Rs 2,100-2,200.

On the other hand, non-basmati varieties were ruling range bound but within a positive territory. Demand for non-basmti is picking up and prices may increase later this week, said Mr Amit. PR-11 (sela) fetched Rs 2,500, PR-11 (raw) Rs 2,350-2,450, Permal (raw) Rs 2,000-2,120 and Permal (sela) Rs 1,900-2,110.

Published on July 09, 2012

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