Commodities

Millers clamp down on rice release to hold prices

Our Correspondent Karnal | Updated on December 26, 2013 Published on December 26, 2013

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The rice market is likely to rule without much change on account of steady demand and ample stocks in the coming days, said trade experts.

With trading being lukewarm in the market, prices of almost all the varieties except Sharbati (steam) remained unchanged .

Amit Chandna, Proprietor of Hanuman Rice Trading Company, told Business Line that domestic demand has failed to pick up and hence, rice millers are releasing limited stocks in the market to keep prices stable.

Trading has been lacklustre since mid-December, he said.

According to trade experts, the market is likely to rule around current levels over the next few days and may witness some alteration in the first week of January. In the physical market, Pusa-1121 (steam) sold at Rs 8,400-8,500, while Pusa-1121 (sela) quoted at Rs 7,500 a quintal.

Pure Basmati (Raw) quoted at Rs 12,500. Duplicate basmati (steam) sold at Rs 7,300.

Sharbati (Steam) dropped by Rs 200 and sold at Rs 4,800 while Sharbati (Sela) was quoted at Rs 4,500.

Permal (raw) sold at Rs 2,300, Permal (sela) at Rs 2,350, PR-11 (sela) sold at Rs 3,100 while PR-11 (Raw) was at Rs 2,950. PR14 (steam) sold at Rs 3,200.

Paddy arrivals

Around 20,000 bags of Pusa-1121 arrived and sold at Rs 3,850-4,000, 5,000 bags of Sharbati arrived and sold at Rs 2,100-2,320, while around 5,000 bags of Suagndha-999 went for Rs 2,600-75 a quintal.

Published on December 26, 2013
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