Paddy market report
In the current year, the export of basmati rice has reached more than 4.5 million tonnes, which is 15 percent more than the previous year. Apart from this, if the payment crisis from Iran is resolved, then the export of about 2 lakh tonnes can increase further. As we said, it was natural for the farmers to get attracted towards paddy due to the good prices of Basmati. Exactly the same has been seen. Sowing of 1509 Sathi paddy in Uttar Pradesh is said to be almost double from last year. In such a situation, there is a possibility of bumper production. However, rain on the crop has damaged the pods and there may be a slight decrease in production. Basmati 1509 prices are going down due to increased sowing of 1509 Sathi paddy and forecast of more production. The rate of Basmati 1509 Sela rice has remained around 7200 to 7300. While 1121 sella is trading around 8000 and Steam is trading around 9000-9100. For your information, let us tell you that the price of Basmati 1121 steam had jumped up to 9900 during the season. Due to excess rainfall in the month of May, it is being estimated by different agencies that the monsoon may remain weak in the coming season. The weak monsoon can have a bad effect on the upcoming paddy crop. There is a perception of decreasing production in the market. As long as there is news of weak monsoon in the market, there is less possibility of further slowdown in the market.