Commodities

Festival season boosts rice rally

Our Correspondent Karnal | Updated on November 17, 2017 Published on November 08, 2012

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The rice market witnessed a good rally with prices of aromatic and non-basmati rice rising on domestic buying and trade enquiries, on Thursday.

Amit Chandna, Proprietor of Hanuman Rice Trading Company, said the uptrend was anticipated as domestic demand for rice has improved following the festival season.

Active participation by bulk buyers to meet the ongoing demand has pushed the market back into a positive territory, he said.

However, traders expect that the market may not sustain the current momentum for long and may rule sideways in near future, said Amit Chandna.

Pusa-1121 (steam) improved by Rs 100 and sold at Rs 5,700 a quintal while Pusa-1121 (sela) sold at Rs 4,800, Rs 350 up from the previous level.

Pure basmati (raw) went up by Rs 500 and quoted at Rs 5,950-6,000 while pure basmati (sela) sold at Rs 5,000-5,100, Rs 450 up.

Duplicate basmati (steam) increased by Rs 150 and traded at Rs 4,750-4,800. Prices of PR-11 (sela) increased by Rs 150 and sold at Rs 2,500-2,600 while PR-11 (Raw) quoted at Rs 2,500, Rs 100 up. Permal (raw) improved by Rs 100 and sold at Rs 2,000-2,200 while Permal (sela) went for Rs 2,200-2,275, Rs 25 up.

Sharbati varieties ruled firm at previous levels, Sharbati (steam) quoted at Rs 3,700 while Sharbati (sela) quoted at Rs 3,300.

Paddy Arrivals

About 80,000 bags of PR variety arrived and went for Rs 1,100-1,150, Sharbati arrived with a stock of around 15,000 bags and quoted at Rs 1,600-1,750 while just around 5,000 bags of DB variety arrived and sold at Rs 2,200-2,450.

About 30,000 bags of Pusa-1121 were quoted at Rs 2,100-2,500, 3,000 bags of pure basmati paddy sold at Rs 2,700-2,850.

Published on November 08, 2012
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