Fine rice - no scope for further reduction
We believe that both domestic and export demand is not favorable for all Basmati rice varieties, but gradually the stock of rice mills is coming out at low prices and the supply of paddy in the mandis has broken down. Traders are not in a position to sell off the goods lying in the stock by further reducing them. As of today, the house is incurring a loss of Rs 260/270 per quintal due to milling in Cheeka Safidon Karnal Tarawadi Kaithal Asand line and the mills are incurring a huge loss after charging interest charges on the paddy which is stocked at the high price of the season. . On the other hand, there is no cheaper export even from Pakistan, under these circumstances the rice of Sela 1509 quality is being quoted at Rs 6550/6650, there is absolutely no scope for it to decrease. Similarly, in other Basmati species also, Manda should be considered finished.