Indian Union Home and Cooperation Minister chaired a meeting to discuss the concern of of low market prices for Basmati rice in India. Earlier, Indian government eliminate the Minimum Export Price (MAP) of $950 per tonne for Basmati rice, to improve the Indian exporters competitiveness with their Pakistan counterpart. The support in domestic prices at harvest season is also expected . Meanwhile, it has not yielded the anticipated results.

As for pricing trends, the average price of Basmati paddy has seen a minor decrease from Rs 1,28,020 per tonne in November end to Rs 1,27,135 per tonne recently, which reflects some improvement, particularly for the 1509 variety. In various regions such as Punjab and Haryana, some traders are selling the 1509 variety for less than INR 1,30,000 per tonne. This persistent low pricing continues to be a pressing issue for farmers, prompting the government to explore solutions to ensure fair compensation for their produce.

Contact Us to Stay updated with our Market Intelligence, Timely Insights and Analysis on Indian Agriculture Commodity markets.

(Source: Investing.com)