Rice prices have begun to rally again on prospects another two million tonnes of the foodgrain being exported in the next 2-3 months
According to Mr Jatin Kumar, an exporter, prospects look bright following good overseas demand.
The sentiment led to some buying emerging in the market. Prices of a few aromatic rice varieties rose. Other aromatic and non-basmati varieties ruled flat. Aromatic rice prices gained by Rs 100-300 a quintal.
Mr Amit Chandna, proprietor of Hanuman Rice Trading Company, said that overseas demand and trade enquiries pushed prices up. The market has seen some good rallies over the last few weeks and the sentiment is still positive, he said.
Of the total rice exported by India so far, around 4.5 million tonnes was non-basmati rice and 2.5 million tonnes basmati.
In the physical market, Pusa-1121 (steam) went up by Rs 200 and quoted at Rs 6,850-7,000 a quintal while Pusa-1121 (sela) sold at Rs 5,500-5,800 a quintal, up Rs 300.
Pure basmati (raw) quoted at Rs 5,500 a quintal while pure basmati (sela) sold at Rs 4,800 a quintal.
For the brokens of Pusa-1121, Tibar sold at Rs 3,600- 3,800, Dubar was at Rs 2,900-3,000 while Mongra was trading at Rs 2,200-2,400 a quintal.
Duplicate basmati improved by Rs 100 and sold at Rs 4,800-5,200 a quintal. PR-14 (steam) sold at Rs 2,400-2,700 a quintal while Sugandha (steam) was trading at Rs 3,900-4,100 a quintal.
Sharbati (steam) sold at Rs 3,800 a quintal while Sharbati (sela) was at Rs 3,750 a quintal.
Permal (raw) sold at Rs 2,000-2,230 a quintal, Permal (sela) at Rs 2,100-2,370 a quintal, PR-11 (sela) sold at Rs 2,400-2,640 while PR-11 (steam) was trading at Rs 2,800-3,050 a quintal.