Prices of Pusa-1121 varieties continued to tumble on Wednesday, while other aromatic and non-basmati varieties were quoted with nominal variations. Domestic demand remained sluggish.
Ample stocks amidst weak demand led prices of Pusa-1121 rice down, said Mr Tara Chand Sharma, proprietor of Tara Chand and Sons. Prices of Pusa-1121 increased by Rs 2,000 a quintal over the last few weeks; and now it is correction time in the market, he said.
In the physical market, prices of Pusa-1121 (steam) eased by Rs 50 and ruled between Rs 5,800 and Rs 5,820 a quintal while Pusa-1121 (sela) sold at Rs 4,830 a quintal, down Rs 20 from previous level.
Pure basmati (raw) traded at Rs 4,900 a quintal, while pure basmati (sela) sold at Rs 4,600 a quintal.
Duplicate basmati sold at Rs 4,510 a quintal. For the brokens of Pusa-1121, Tibar sold at Rs 3,400-3,500, Dubar at Rs 2,700-2,900 while Mongra was trading at Rs 1,900-2,300 a quintal.
Sugandha (steam) went for Rs 3,650-3,730 a quintal while PR-14 (steam) sold at Rs 2,300-2,420 a quintal.
Sharbati varieties continued to rule flat, Sharbati (steam) sold at Rs 3,400-3,600 a quintal while Sharbati (sela) was at Rs 3,500 a quintal.
Permal (raw) sold at Rs 1,900-2,010 a quintal, Permal (sela) at Rs 1,800-2,020, PR-11 (sela) at Rs 2,220-2,350 and PR-11 (raw) at Rs 2,125-2,300 a quintal.