Report - What will be the market trend of basmati rice after Holi?

There was an atmosphere of decline in Basmati rice for the last two to three months, now due to inquiries from exporters and increase in prices in Pakistan, the clouds of recession have subsided, it seems that in view of the upcoming milling losses in May, there is a possibility of getting huge profits in June. Experts say that the export of cheap Basmati rice from Pakistan from November 15 to February 29 has adversely affected Indian exports. On the other hand, the terror caused by Houthi rebels in the sea route has also had a huge impact on exports for 3 months. Now, both these reasons are gradually calming down, because recently the price of Basmati rice in Pakistan has increased by Rs 200/300 per quintal as per Indian currency. There are reports of less sowing of paddy in UP and sowing is likely to be affected in Uttaranchal also. Apart from this, the paddy which came in the markets of Punjab, Haryana, UP, Rajasthan and Madhya Pradesh in the Kharif season, after being sold at high prices at that time, has been reduced to a great extent due to the severe recession in the last 3 months and some paddy has also got spoiled. Under these circumstances, availability of paddy for milling has reduced. For this reason, the price of 1509 Rice which was sold in UP for Rs 6500 has started rising to Rs 6600 and here too good grains are not available in bulk for Rs 6650. Similarly, the availability of 1121 and 1718 Sella and Steam rice has reduced. Hence, now the chances of bearish trend have reduced from here. Just as there was a huge rise in October, in the same way the market is expected to rise again in May-June also. Although there will be no rapid growth, the market will gradually increase. Meanwhile, the export deals of Basmati variety rice are pending with the exporters and there is a shortage of rice in the importing countries, however, due to the shortage of rupees in the markets, some stockists have started selling their goods at low prices, but those goods are also gradually being sold. The stock has gradually decreased. The arrival of paddy has decreased in all the markets of Punjab like Jandialaguru, Tarn Taran, Amritsar etc. On the other hand, in the mandis of Haryana's Taraori, Kaithal, Cheeka, Safidon, Assand, Tohana etc., the goods of the high price of the season were stuck in the necks of traders, due to which the goods of small traders have been cut. Under these circumstances, the market will move up - down by Rs 100 for a few days, but the long-term result seems to be a rise again before the arrival of the new crop.

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