The bearish sentiment in the domestic rice market continued with prices of Pusa-1121 varieties falling further and all other aromatic and non basmati rice remaining range-bound on Thursday.

The easy availability of stocks amidst sluggish domestic demand resulted in prices of Pusa-1121 rice dropping, said Mr Tara Chand Sharma, proprietor of Tara Chand and Sons. Traders expect that rice prices may decrease further as domestic demand is not picking up, he said.

The market has been volatile over the last few weeks and the bulk buyers and retailers are not placing orders and are waiting for the market to stabilise, said Mr Sharma. Even the high overseas demand is not supporting the market currently, he said.

In the physical market, prices of Pusa-1121 (steam) eased further by Rs 100 and quoted at Rs 6,600-6,700 a quintal, while Pusa-1121 (sela) sold at Rs 5,500-5,630 a quintal, Rs 70 down from previous level.

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 remained unchanged and sold at Rs 4,600-5,000 a quintal. PR-14 (steam) was at Rs 2,400-2,600 a quintal while Sugandha (steam) sold at Rs 3,900-3,980 a quintal.

Sharbati (steam) sold at Rs 3,700 a quintal while Sharbati (sela) was at Rs 3,600 a quintal.

Permal (raw) sold at Rs 2,000-2,135 a quintal, Permal (sela) was at Rs 2,100 a quintal, PR-11 (sela) sold at Rs 2,300-2,440 while PR-11 (Raw) was trading at Rs 2,500 a quintal.

Related Topics
comment COMMENT NOW