Rice Trade Risks Diminish, Market Strengthens

In the major basmati rice-producing states of the country, the supply of basmati paddy has now dropped to a quarter, leading to some strength in the rice market. With a slight improvement in sales of finished goods at rice mills, the market has started to recover. After a period of downturn, all types of fine rice saw strength by late evening. Experts suggest that if export demand improves in the future, the lower prices currently seen in the market are unlikely to persist. Therefore, it is advisable to engage in trade at current prices, with a wait-and-watch approach being beneficial in the coming days. Additionally, Indian rice is the cheapest in international markets, leading to increased inquiries from exporters. Recently, rumors about payment issues had a negative impact on the rice industry, but the situation is now improving.

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