Rice trade in ‘wait-n-watch’ mode

Our Correspondent Karnal | Updated on August 12, 2013 Published on August 12, 2013

Paddy arrivals dropped to just around 1,500 bags on Monday against the daily arrivals of about 4,000 bags till last weekend.

Tara Chand Sharma, Proprietor of Tara Chand and Sons, told Business Line that there is no particular reason behind it and arrivals are likely to touch the 10,000-bags-a-day mark within the next couple of weeks, he said.

In the physical market, rice may rule range-bound in the coming days as bulk buyers are keeping out of the market, said trade experts.

There is no bulk buying in the market currently as traders have adopted a wait-and-watch policy following too much volatility in the market in the recent past, said Amit Chandna.

Alteration of Rs 50-100 a quintal wouldn’t make much difference and market may continue to rule around current levels with marginal fluctuations this week, he added.

Pusa-1121 (steam) sold at Rs 8,000, while Pusa-1121 (sela) quoted at Rs 7,650-7,700.

Pure basmati (raw) quoted at Rs 8,650. Duplicate basmati (steam) sold at Rs 6,550. For the brokens of Pusa-1121, Dubar quoted at Rs 3,600, Tibar sold at Rs 4,250 while Mongra was at Rs 2,900.

Similarly, non-basmati varieties remained unchanged. Sharbati (Steam) sold at Rs 4,500-4,600 while Sharbati (Sela) quoted at Rs 4,300.

Permal (raw) sold at Rs 2,300-2,350 while Permal (sela) went for Rs 2,300. PR-11 (sela) sold at Rs 2,900 while PR-11 (Raw) quoted at Rs 2,750. PR14 (steam) sold at Rs 3,100.

Paddy arrivals

Around 1,500 bags of different paddy varieties arrived at the Karnal Grain Market Terminal on Monday from the Uttar Pradesh.

About 500 bags of Pusa-1121 arrived and quoted at Rs 3,250. Around 1,000 bags of PR arrived and quoted at Rs 1,000-1,175.

Published on August 12, 2013
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