Commodities

Basmati paddy may top Rs 5,500 a quintal soon

Our Correspondent Karnal | Updated on October 28, 2013 Published on October 28, 2013

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The bullish trend in the rice market continued on Monday, with prices of aromatic and non-basmati varieties moving up by over Rs 50 a quintal.

Higher paddy prices coupled with overseas export and domestic demand pushed rice prices up further, said Amit Kumar, proprietor of Ginni Rice. Market sentiments are still largely positive and it is hard to anticipate the levels where this rally will head towards, he said.

According to the market experts, exporters are getting good demand from West Asia and US.

This year, pure basmati paddy price has touched the levels of Rs 4,700 and it may touch Rs 5,500 a quintal in coming days, said market sources.

In the physical market, New Pusa-1121 (steam) improved further by Rs 200 to Rs 8,100-8,200, while new Pusa-1121 (sela) went up by Rs 50 to Rs 7,550. Pusa-1509 (sela) quoted at Rs 6,050-6,250.

Pure Basmati (Raw) quoted at Rs 11,500, up Rs 500. Duplicate basmati (steam) moved up by Rs 300 to Rs 6,700.

For the brokens of Pusa-1121, Dubar increased by Rs 300 to Rs 3,900, Tibar sold at Rs 4,500, while Mongra quoted at Rs 3,500.

In the non-basmati section, Sharbati (Steam) went up by Rs 100 to Rs 4,650-4,700, while Sharbati (Sela) increased by 200 to Rs 4,600.

Permal (raw) improved by Rs 125 at Rs 2,350-2,400 while Permal (sela) went up by Rs 100 to Rs 2,400 . PR-11 (sela) rose by Rs 200 to Rs 2,900 while PR-11 (Raw) quoted at Rs 3,000-3,100 , up Rs 300.

Prices of PR14 (steam) increased by Rs 400 to Rs 3,100 .

Paddy arrivals

About 50,000 bags of PR paddy arrived and quoted at Rs 1,400-50, around 25,000 bags of Pusa-1121 arrived and sold at Rs 3,800, 10,000 bags of Sugandha at Rs 2,700, while 5,000 bags of Sharbati arrived and sold at Rs 2,350.

Around 15,000 bags of Duplicate Basmati arrived and went for Rs 3,700 , while 500 bags of Pura Basmati sold at Rs 4,700 a quintal.

Published on October 28, 2013
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