Wednesday, May 29, 2024
India News

Paddy arrivals bring down rice prices

  

With fresh arrivals of paddy in the Redhills paddy and rice market, prices of rice in the wholesale market and mandis have come down by at least ₹4/kg.

Federation of Tamil Nadu Rice Mill Owners and Paddy Rice Dealers Association A.C. Mohan told The Hindu that prices of super fine varieties of rice that had gone up to ₹1,620 per 26 kg bag has now come down to ₹1,450/ bag.  

“We expect this reduction to be reflected in the retail market shortly. There had been an increase since June last year. This was due to huge overseas demand for rice, a shortfall in production, increase in fixed charges for power and GST on packed rice bags. After January 15, the arrivals have improved leading to reduction in prices,” he said.

Coarse varieties of CR 1009 and Ambai 16 that is being produced in the Thanjavur belt in the State had come down from ₹1,050 – ₹1,110 (per 26 kg bag) to ₹950 – ₹1,000 (per bag).  

R. Punnaippan of Koyambedu Wholesale Food Grains Merchants Association, said that idli rice prices had come down by ₹4 per kg. “Wholesalers have been asked to submit their stock and exports too have been banned. These and other factors have helped bring down the price. In the retail market however, handling of rice by coolies has become costly since labourers are charging more,” he added.  

One popular brand that sells in 5 kg, 10 kg and 20 kg bags even on online platforms is selling at a profit of ₹12 per kilo. Steps must be taken to ensure they reduce prices, said a rice wholesaler.  

R. Priyadarsini, a homemaker, said that rice prices should always be kept under control. “Petrol and diesel prices have not gone up in over 650 days, so traders cannot blame fuel prices for increase in costs. Rice is the most basic of all needs in homes. The government must keep an eye on rice prices,” she said.  

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