With mills cutting offtake, paddy arrivals drop

Paddy arrivals dropped to around 30,000 bags on Monday against the daily arrivals of about 50,000 bags till last weekend.

Tara Chand Sharma, Proprietor of Tara Chand and Sons, told Business Line that reduced offtake by the rice mills is the prime reason behind the fall in arrivals.

Millers are not showing much interest in buying and hence, farmers bring limited produce, 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, proprietor of Hanuman Rice Trading Company.

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 said.

Pusa-1121 (steam) sold at Rs 8,800 , while Pusa-1121 (sela) quoted at Rs 7,750-7,800 a quintal. Pure Basmati (Raw) quoted at Rs 12,500 . Duplicate basmati (steam) sold at Rs 7,500 .

Sharbati (Steam) sold at Rs 5,000-5,100 while Sharbati (Sela) quoted at Rs 4,650 . Permal (raw) sold at Rs 2,350 while Permal (sela) was at Rs 2,400 . PR-11 (sela) sold at Rs 3,200 while PR-11 (Raw) quoted at Rs 3,000 . PR14 (steam) sold at Rs 3,300 .

About 5,000 bags of PR paddy arrived and quoted at Rs 1,300 , around 20,000 bags of Pusa-1121 arrived and sold at Rs 3,800-4,250, while 5,000 bags of Sharbati arrived and sold at Rs 2,150-2,300 a quintal.

COMMENT NOW