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Reply #70: Basmati to fetch less, prices 15-20% lower this year [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Nov-01-11 10:37 AM
Response to Reply #54
70. Basmati to fetch less, prices 15-20% lower this year
http://economictimes.indiatimes.com/news/economy/agricu...

CHANDIGARH: Basmati growers in Punjab and Haryana are likely to earn less from their produce this season, with rates for the aromatic rice variety ruling 15 to 20 per cent lower than last season on account of oversupply of the crop.

Finding "no scope" for any increase in prices of premium varieties of paddy in coming months, Punjab Agricultural University (PAU) has even asked farmers to sell their basmati crop immediately after harvesting.

"Farmers will be the main sufferers this season as prices of basmati crop are ruling low (against last year's rates) because of oversupply of crop," All India Rice Exporters Association President Vijay Setia told PTI today.

Rates of much-in-demand basmati variety PUSA 1121 are ruling at Rs 17-18 per kg, as against Rs 20-24 per kg last year. The price of PUSA 1 is hovering around Rs 15 per kg, while its price stood at Rs 19-20 per kg last season.
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