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Sluggish domestic demand pulled aromatic rice down while non-basmati rice varieties were ruling firm on Friday.
Mr Amit Chandna, proprietor of Hanuman Rice Trading Company, told Business Line that some new advance contracts of Pusa-1121 (sela) were signed at the levels of Rs 3,800 a quintal and traders expect that prices may remain around Rs 3,800-4,000 throughout the season. Demand of full grain aromatic rice is not picking up as buyers prefer broken rice in domestic market, he added.
Pusa-1121 (steam) eased by Rs 100 and settled at Rs 4,800 a quintal while Pusa-1121(sela) was ruling around Rs 3,930.
Pure Basmati (Raw) fell up to Rs 50 and sold at Rs 5,450 a quintal while Basmati Sela sold at Rs 3,780. Duplicate basmati at Rs 3,000 a quintal, Rs 100 down from previous level.
According to the reports, demand for non-basmati rice is increasing fast in international market and buyers are turning to India as the cheapest available source for non basmati rice right now. So far around a million tonnes of common-grade rice has been exported from the country since a ban on shipments was lifted.
Prices of non-basmati varieties ruled firm, Sharbati (steam) recovered marginally by Rs 20 and ruled at Rs 2,900-3,000 while the Sharbati (Sela) was at Rs 2,800 a quintal.
PR11 (Sela) sold at Rs 2,100-2,200 a quintal, while PR-11(Raw) quoted at Rs 1,900-2,100 a quintal. PR Silky was at Rs 2,250-2,300 a quintal.
Permal (sela) sold at Rs 1,800-1,950 a quintal, Permal (steam) was at 2,030 a quintal while Permal (Raw) was at Rs 1,825-1,920 a quintal.
Paddy Arrivals
Around 1.25 lakh bags of different paddy varieties arrived. PR arrived with a stock of around 65,000 bags and sold at Rs 1,065-1,150. Around 12,000 bags of Sugandha-999 arrived and it was lifted at around Rs 1,400-1,500 a quintal. About 15,000 bags of Sharbati variety arrived and quoted at Rs 1,360-1,500, DB arrived with a stock of around 15,000 bags and sold at Rs 1,450-1,635. Around 20,000 bags of Pusa 1121 arrived and sold at Rs 1,630-1,840 a quintal.
Procurement in Punjab
More than 57.64 lakh tonnes of Paddy was procured by the Government agencies and private millers in Punjab till October 20 against 54.58 lakh tonnes procurement of previous year.
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