New Delhi (Commoditiescontrol) – Rice price is set to rise next week by Rs 200-300/100kg in the near term amid substantial shortage of stocks in Punjab and Haryana. According to traders, stocks with mills in both the states is insufficient to cater domestic demand.
Ashok Agrawal, Director, AA Agro Energy, Mohali, Punjab said, the current stocks of finished basmati rice (1121 Steam and Sella) in Punjab and Haryana are likely to be around 1.25 lakh tonnes, out of which 70,000 tonnes basmati (1121 Steam and Sella) is in Punjab and 50,000 tonnes of Sella in Haryana. According to him, “Currently, exports demand for basmati rice is nearly two lakh tonnes and one lakh tonnes is required to meet domestic consumption demand.”
Hence, present stocks are not enough to meet the demand and so price may trade firm in the future.
Paddy stocks with millers of Punjab and Haryana would be around 4-5 lakh bags (1 bag = 50kg) and they can produce rice as per the requirement, he added.
According to Agrawal, rainfall has disrupted transportation of rice in major cities, consequently, supply fell short of demand. He expects rice to gain by 10 percent in its prices after August 15, as weather improves and supply accelerates.
Punjab Basmati Rice Millers Association spokesman Ashish Kathuria said, stocks of rice is low and the current stock can fulfill only August’s consumption. According him, basmati rice declined nearly Rs. 100-300/100kg during past one week in Punjab, but prices may gain as stocks have fallen short. Apart from this coarse rice demand has also increased with rise in its overseas demand, particularly from African countries. Even coarse rice stocks are negligible and most of them are in government’s warehouses, following the shortage of stocks rice prices surged near Rs. 100/100kg in a week.
North India’s Rice Market At A Glance
Rice varieties of 1121 Steam, Sugandha Steam and Sella were offered lower by Rs. 350, Rs. 150 and Rs. 300/100kg to trade at Rs. 5,500, Rs. 3, 200-3, 300 and Rs. 2,700-2,800/100kg respectively at Naya Bazar, Delhi last week while DP Steam and DP Sella fell Rs. 400 and Rs. 300 to trade at Rs. 4,400-4,500/100kg and Rs. 3,500-3,600/100kg respectively.
Similar trend held in the rice market of Punjab and Haryana. 1121 Steam and Sella were lower by Rs. 100-150/100kg due to fall in offtake. Both varieties of rice were offered at Rs. 5,850/100kg and Rs. 4,600/100kg. Similarly, 1509 Steam and DP Steam dropped Rs. 200-300/100kg and traded at Rs. 5,050 and Rs. 4,900/100kg respectively.
However, Parmal rice rose due to its scanty stocks in Punjab. Parmal Steam and Sella trader higher by Rs. 100 at Rs. 3,100/100kg. Rice remained under pressure at Tarawadi and Sirsa in Haryana as 1121 Sella was down by Rs. 100 to be offered at Rs. 4,350/100kg at Tarawadi and 1121 Steam, DP Stea and DP Sella prices fell near Rs. 200 to trade at Rs. 5,400/100kg, Rs. 4,400/100kg and Rs. 3,400/100kg respectively at Sirsa market.
Paddy Acreage Below Normal, But Higher Than Previous Year
According to the latest data of the Ministry of Agriculture, As of August 7, Paddy plantation reached 277.89 lakh ha but it is still below normal by 3.42 percent as normal area has been at 281.31 lakh hectares during the said period, however, acreage is higher than last year’s 265.90 lakh hectares across the country.
(By Commoditiescontrol Bureau; +91-22-40015533)
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