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Bearish Trend Extends In Northern Rice Markets; Export Orders Awaited

22 Oct 2020 4:23 pm
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NEW DELHI (Commodities control) Rice prices continue to be trapped in a bearish territory in Punjab, Haryana and Delhi. Prices of 1509 and 1121 rice recorded down fall of Rs. 100 per quintal. However, market expects breakthrough in new export orders. Although, India’s largest rice buyer--Iran is yet to get a solution on payment issue.


Rice millers are facing cash crush because of heavy payment dues on exporters. 1509 steam rice slipped from Rs. 5300 to Rs. 5200 per quintal in Karnal. Similarly, 1121 steam rice fell down from Rs. 5300 to Rs. 5200 per quintal. 1121 Sela rice lost Rs. 100 to Rs. 4500 per quintal.

A rice trader expects payment issues to be resolved soon. The market eagerly waits for settlement in this matter. But exporters are yet to find a solution from Iran which is main cause for cash crunch and poor demand.

Not only Haryana millers, even Punjab millers are facing similar issue. While premium paddy will move up only when export demand picks up and millers rush to buy paddy. An exporter said that poor export has led to heavy losses only for businessmen but also for farmers. In most of the markets, premium paddy traded below MSP of common paddy.


Mandi

Rice Variety

22-Oct

21-Oct

Change

Naya Bazar, Delhi

DP Steam

5500

5500

0

Naya Bazar, Delhi

DP Sela

5200

5200

0

Naya Bazar, Delhi

1509 Steam

4800

4800

0

Naya Bazar, Delhi

1509 Sela

3700

3700

0

Naya Bazar, Delhi

Sugandha Steam

3800

3800

0

Naya Bazar, Delhi

Sugandha Sela

3500

3500

0

Naya Bazar, Delhi

1121 Steam

6000

6000

0

Naya Bazar, Delhi

1121 Sela

4800

4800

0

Taraori, Karnal

1509 Steam New

4300

4400

-100

Taraori, Karnal

1509 Sela New

3500

3500

0

Taraori, Karnal

1121 Steam New

5200

5300

-100

Taraori, Karnal

1121 Sela

4500

4600

-100

Taraori, Karnal

DP Steam

5800

5800

0

Taraori, Karnal

DP Sela

4800

4800

0

Taraori, Karnal

Sharbati Sela

3250

3250

0

Fazilka, Punjab

1509 Steam-New

4500

4500

0

Fazilka, Punjab

1509 Steam-Old

4900

4900

0

Fazilka, Punjab

1121 Steam

6200

6200

0

Fazilka, Punjab

1401 Steam

5700

5700

0

Fazilka, Punjab

PR Steam

2900

2900

0

Fazilka, Punjab

PR Sela

2950

2950

0

(By Commoditiescontrol Bureau: +91-22-40015505)


       
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