Mandi Updates: Wholesale Rates for Basmati Rice on the Rise in Multiple Indian Mandis

Wholesale mandis across the country saw an increase in the month-on-month average of wholesale prices of basmati paddy, according to the data by the Agmarknet portal, run by the Union Ministry of Agriculture and Farmers Welfare.

Wholesale basmati paddy prices in Uttarakhand significantly increased by 51.67% since February. As of March 7, 2024, the wholesale price has reached Rs 2,912 per quintal, a notable increase from Rs 1,920, just the month before. Similarly, in Uttar Pradesh, the rates of basmati rose to Rs 3,574 per quintal by 1.1% from Rs 3,535.

On the other hand, the wholesale rates of the commodity fell in several states such as Punjab, Haryana, and Rajasthan. In Rajasthan, the wholesale price dropped by Rs 91 per quintal to Rs 3,975, while in Haryana it fell from Rs 4,443 to Rs 4,254, and in Punjab, the prices fell drastically from Rs 4024 to Rs 3281. Overall, the national month-on-month average wholesale price increased by Rs 343.37 per quintal to Rs 3,599.2.

Basmati is a golden crop for India. Its higher demand, flavor, and aroma make it popular for export, bringing valuable income to the country. The minimum export price of basmati rice is $950 per tonne, reduced from $1,200 last year.

For those interested in exploring the prices of various crops in their respective state markets, the official website agmarknet.gov.in provides a comprehensive list. Understanding the price dynamics of different crops and their quality assessment remains pivotal in navigating market fluctuations for farmers and traders alike.