Saturday, 13 July 2013

New Crop Arrivals Put Pressure On Rice

Rice market may continue to rule in a tight range for the next few days. With not much trading taking place in the market, aromatic and non-basmati varieties remained unchanged on Thursday. Market may continue to rule in a tight range with marginal fluctuations even in the coming days. New paddy crop arrivals have started from the Uttar Pradesh and the quality of the stock is very good.

New crop arrivals are also putting some pressure on the market. However, currently there are no buyers for the PR and Sharbati variety, while rice millers have shown some interest in buying of Pusa-1121. Traders expect that buying may pickup within a week and then the arrivals of PR variety will also increase.