Rice Report
There are growing expectations for an increase in the prices of fine rice. Recent continuous rainfall has led to a 40% drop in the arrival of paddy in the mandis of Haryana and Punjab. As a result, the price of paddy, which was previously selling for ₹2600-2800 per quintal, has now risen to ₹2650-2850 per quintal. Interestingly, exporters have a low stock of Basmati rice, and the government has removed the minimum export price, which may boost buying by exporters. This could lead to further increases in Basmati rice prices. However, there currently seems to be no expectation of a price rise for coarse rice. Overall, under the current circumstances, there is a likelihood of increased demand for fine rice, which could drive prices higher.