Fine Rice Market Under Pressure for Now, but Likely to Strengthen from Next Week
Despite a decline in the arrival of Sathi paddy in markets of Uttar Pradesh and Uttarakhand, the demand from exporters for fine rice has remained weak this week, keeping the market subdued. As a result, prices for sela and steam rice are temporarily under pressure. However, rice mills are facing a shortage of paddy, and with export shipments expected to resume next week, a price recovery is likely on the horizon. Currently, 1718 sela rice is being quoted at ₹6500 per quintal, but it is expected to rise to ₹6700 soon. Similar upward trends are anticipated in other varieties like 1401, 1408, and 1509 as well.