Saturday, April 26, 2008

Rice Down On Poor Demand

New Delhi: The wholesale price of rice on Friday declined by Rs 200 a quintal here due to lack of demand from the buyers. Basmati (common) prices declined by Rs 200 at Rs 6270-6470 per quintal.

Among non-basmati rice, permal (raw) and permal (wand) rates dipped by Rs 50 each at Rs 1320-1420 and Rs 1550-1650 per quintal respectively.

"Activity has virtually dried up as traders were not ready to take any fresh positions in view of raids on wholesale grain traders", said a grain merchant. Another trader said that reports of a fall in global markets have also led to a weak sentiment in the wholesale grain market here.

In order to control inflation, the government has banned the export of non-basmati rice and has also hiked the minimum export price (MEP) of basmati rice to increase the availability of the rice in the domestic market. Meanwhile, wheat MP (Deshi) prices remained unchanged at Rs 1240-1490 in the absence of any worthwhile buying or selling. Barley (UP and Rajasthan) prices declined in the range of Rs 30-50 per quintal taking cues from prevailing prices at producing belts.

Following were today's quotations per quintal: Wheat MP (deshi) 1240-1490, wheat dara (for mills) 1045-1090, chakki atta (delivery) 1110-1115, Chakki atta Rajdhani (10 kgs) 150, shakti bhog (10 kgs) 160, roller flour mill 1105-1110, maida 1200-1215 (90 k ilos) and sooji 1225-1240 (90 kgs).

Rice basmati (lal quila) 7000, Shri Lal Mahal 7000, Basmati common 6270-6470, Permal raw 1320-1450, permal wand 1550-1650, sela 2100-2250 and rice IR-8 1200-1300, Bajra 675-680, Jowar yellow 700-750, white 1250-1300, Maize 780-800 Barley (UP) 1130-1140 a nd Rajasthan 1100-1110.

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