NEW DELHI (Commoditiescontrol) –Area under basmati paddy is likely to shrink this year in Haryana, a key basmati grower in India, while non-basmati acreage may expand. Rice dealers of the state say that basmati growers couldn’t find reasonable prices of their produce during early harvesting season last year which may divert their attention from basmati to non-basmati paddy crop in the ongoing kharif season. They also foresee firm trend in rice prices in near term in case of low acreage of paddy, particularly, basmati crop.
“Basmati acreage may decline around 15 percent in the ongoing kharif season as compared to last year which may shift to non-basmati paddy crop,” said Krishna Goyal, MD, Goyal Rice (Glaxi Brand). Farmers’ attention has also diverted toward sugarcane this year, hence, paddy acreage is likely to remain as much as it was last year, he added.
Since, present stocks of rice are very low and new crop is likely to come in the market after October 15, hence, rice prices may surge, anticipated Goyal. He expected basmati rice to move up Rs. 500-700/100kg.
Manoj Gupta, MD, DM Traders (Metro City Number 1 Brand) also guessed paddy acreage to remain as much as it was last year but according to his calculation basmati area will fall to 30 percent of the total paddy coverage while non-basmati will cover 70 percent while ratio of basmati and non-basmati area was 50:50 last years. The reason he attributed for shifting farmers’ attention from basmati to non-basmati crop is low prices of basmati witnessed during early harvesting season last year.
He anticipated a hike of Rs. 200-300/100kg in rice prices due to low stocks and increased demand for broken rice these days.
As per agriculture department reports, area under paddy crop was 6 lakh hectares as on June 30, 2016 against 4.50 lakh hectares corresponding period last year in Haryana.
(By Commoditiescontrol Bureau; +91-22-40015533)
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