Rice price to increase again
After a pause, rice prices are showing renewed strength in the markets of Uttar Pradesh and Uttarakhand. Despite pressure on paddy stocks in mandis, the quality of harvested paddy is not satisfactory, and the availability in markets is not favorable. Reports suggest lower yields in rice production. On the other hand, there is increasing demand for old stocks from both domestic consumers and exporters. This has led to a price increase of ₹250-300 per quintal over the past week. However, over the last three days, prices have seen a slight decline of ₹200-250 per quintal. Currently, there appears to be a stabilization in prices after this brief pause. There is growing demand for packaging in both varieties of rice, 1718 and 1509, in both Sela and Steam varieties. Exporters have started procuring stocks for recent export deals, which has contributed to the steadying of prices in the market.