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Basmati rates fall post high output; growers a worrying lot
Punjab

Basmati rates fall post high output; growers a worrying lot

Agency News

Basmati growers are a worrying lot as the price of the high variety of rice could not attract a better price this time as high output.

The price this year has remained Rs 2,400-2600 per quintal which is much lesser than that in the corresponding period last year.

Further, climate change has affected the per-acre yield this time and it is much lesser than that of former years. Currently, the price ranges from Rs 2,400-2,600 per quintal, which was nearly Rs 3,300 per quintal at the same time last year.

Some basmati growers said those who had sown normal variety of the paddy crop would make more money. The farmers demand for a minimum support price (MSP) for basmati this year.

Ashish Kathuria, general secretary, Punjab Basmati Rice Millers’ Association, said, “This year, the production of basmati in our country is expected to touch 75 lakh tonne but the market remains the same, having a demand of nearly 60 lakh tonne. Therefore, traders from the main basmati-buying countries are negotiating the price. Last year, 43 lakh tonne basmati was exported and 16 lakh tonne was consumed by the domestic market. The prevailing price is nearly Rs 600 lesser than that last year. The situation is similar in all states.”