Weekly Review-Paddy-Rice

18-Jan-2025 09:11 PM

Mixed trend in the prices of paddy and rice according to demand and supply


Weekly Review – Paddy & Rice Market (11-17 January 2025)

Overview: The market for paddy and rice has shown a mixed trend, with fluctuations in prices driven by the decreasing arrival of Kharif paddy and varying demand from millers and exporters. Both paddy and rice are seeing some adjustments in prices as per the local mandi conditions.

Delhi:

  • Arrivals: Narela Mandi saw the arrival of 10,000-12,000 bags, while Najafgarh Mandi had 800-1000 bags.
  • Prices:
    • In Narela Mandi, the price of 1718 paddy increased by Rs 122, and 1509 hand paddy rose by Rs 34.
    • In Najafgarh Mandi, the price of 1121 paddy fell by Rs 51 per quintal.
    • Prices of Shriram paddy in Bhatpara (Chhattisgarh) dropped by Rs 100, while Mahamaya paddy in Rajim saw a rise of Rs 150.

Uttar Pradesh:

  • Arrivals: Mandis in Etah, Mainpuri, Jahangirabad, Shahjahanpur, and Aligarh are receiving 10,000-15,000 bags of paddy daily.
  • Prices: Prices are fluctuating by Rs 50-100 per quintal based on demand.

Haryana:

  • Khair Mandi: Prices have shown some ups and downs with the arrival of 5,000-10,000 bags of paddy.
  • Basmati rice: Supply is decreasing significantly. 10,000 bags of paddy arrived at Tohana Mandi on January 16, but prices remained stable.

Rice:

  • Demand: Domestic and export demand for rice is strong. Exporters are actively buying Basmati and food grain rice, especially with the approach of Ramadan in Muslim-majority countries and rising demand from African nations for coarse rice.
  • Price Outlook: The export offer price for Indian rice remains competitive, contributing to the positive price environment.

Government Intervention:

  • The Central Government has set a minimum reserve price of Rs 2800 per quintal for rice under the OMSS (Open Market Sale Scheme). Additionally, rice will be supplied to states and ethanol manufacturers at a highly subsidized rate of Rs 2400 per quintal for government agencies selling under the Bharat brand.

Conclusion: The market for paddy is experiencing price adjustments, with some varieties seeing price increases while others face declines. Rice prices are trending upward due to strong domestic and export demand. With government measures in place, the rice market is expected to remain stable in the coming weeks.

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