An unexpected rally in the market pushed up aromatic and Sharbati rice prices by Rs 200-500 a quintal on Monday, while PR varieties ruled firm on moderate buying.

Amit Chandna, Proprietor, Hanuman Rice Trading Company, told Business Line thatfrantic buying by bulk buyers in order to build inventories pushed aromatic and sharbati prices further up.

Rice millers don’t have much carry-forward stocks this year and the new stocks are not ready yet. The market is getting good demand from overseas markets too, he said.

According to the market experts, if the current situation persists, Pusa-1121 (steam) may even touch the Rs 10,000 a quintal mark in the coming days.

In the physical market, Pusa-1121 (steam) moved further up by Rs 500 and sold at Rs 9,200-9,300, while Pusa-1121 (sela) improved by Rs 300 to Rs 8,100 .

Pure Basmati (Raw) went up by Rs 200 to Rs 12,700 . Duplicate basmati (steam) sold at Rs 7,300 , Rs 300 up.

In the non-basmati section, Sharbati (Steam) was up by Rs 400 at Rs 5,500-5,700, while Sharbati (Sela) quoted at Rs 5,200 , Rs 300 up.

Permal (raw) sold at Rs 2,350-2,400, while Permal (sela) was at Rs 2,400. PR-11 (sela) sold at Rs 3,100 while PR-11 (Raw) quoted at Rs 3,000-3,100.

PR14 (steam) sold at Rs 3,400 .

Paddy arrivals

About 40,000 bags of PR paddy arrived and quoted at Rs 1,350-1,500 , around 40,000 bags of Pusa-1121 arrived and sold at Rs 3,750-4,400 , while 10,000 bags of Sharbati arrived and sold at Rs 2,400-2,550 . Around 10,000 bags of Duplicate Basmati arrived and went for Rs 4,000-4,200 , while 1,000 bags of Pure Basmati sold at Rs 5,600-5,900 a quintal.

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