Weekly Review - Paddy and Rice

New Delhi: The markets for Basmati paddy and 'A' grade non-Basmati paddy are currently witnessing significant activity and vibrancy. On one hand, farmers are bringing large quantities of paddy to major wholesale markets in key producing states, while on the other, buyers are actively purchasing the stock at higher prices. Consequently, a sharp increase in paddy prices was recorded across various markets during the week of October 17–23, which in turn led to a significant rise in rice prices.

During the week under review, the average daily arrival of paddy reached 70,000–90,000 bags in Narela (Delhi); 10,000–15,000 bags in Najafgarh; 8,000 bags in Fazilka (Punjab) and 21,000–32,000 bags in Tarn Taran (Punjab); 30,000–40,000 bags in Etah (Uttar Pradesh); 60,000–80,000 bags in Mainpuri; 50,000 bags in Jahangirabad; 100,000 bags in Shahjahanpur; 10,000–15,000 bags in Aligarh; and 80,000–90,000 bags in Khair.

Large quantities of paddy are also arriving in markets across Haryana, Madhya Pradesh, and Rajasthan. It is worth noting that paddy produced in Madhya Pradesh and Rajasthan is not classified as Basmati.

Paddy from Maharashtra also falls into this same category. Driven by robust buying, prices have increased by ₹100 to ₹500 per quintal. Notably, there is a high volume of trading, particularly for the '1509' variety of paddy.

Similar to paddy, prices for Basmati rice and 'A' grade non-Basmati rice have also seen a sharp increase. Domestic and export demand remain strong, while production is expected to decline.

Exporters and stockists are attempting to bolster their inventory positions by making large-scale purchases of premium-quality rice. In Raichur, Karnataka, prices for various varieties and grades of rice saw a sharp increase, ranging from ₹500 to ₹1,000 per quintal.

Rice prices also surged significantly in Amritsar (Punjab), Naya Bazar (Delhi), and Nizamabad (Telangana). Other trading centers experienced only minor fluctuations.