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Bulk, retail buyers stay away from rice market

Karnal, Dec. 2: 

The rice market witnessed a mixed trend on Monday. After witnessing a fall last weekend, Pusa-1121 and Duplicate Basmati varieties dropped further, while all other aromatic and non-basmati varieties remained unchanged at their previous levels.

Amit Chandna, proprietor of Hanuman Rice Trading Company, told Business Line that bulk buyers and retail traders are keeping themselves out of the market as they are reluctant to make fresh purchase on current levels.

Market sentiments are weak following continuous fall and only need-based buying is taking place in the market, he said. It is hard to anticipate the market’s future but it is unlikely to see any major alteration in the coming days. It may continue to rule around current levels with marginal alteration, said sources.

In the physical market, Pusa-1121 (steam) eased further by Rs 400 to Rs 8,500 , while Pusa-1121 (sela) dropped by Rs 300 to Rs 7,500 a quintal.

Pure Basmati (Raw) quoted at Rs 12,500 .

Duplicate basmati (steam) sold at Rs 7,500, Rs 250 down.

On the other hand, in the non-basmati section, after witnessing a fall last weekend, almost all the non-basmati varieties managed to maintain their previous quoted levels.

Sharbati (Steam) sold at Rs 5,000-5,100 while Sharbati (Sela) quoted at Rs 4,650. Permal (raw) sold at Rs 2,350 while Permal (sela) was at Rs 2,400.