Deadlock over, paddy procurement begins

Our Correspondent

Fazilka, October 26

The purchase of fine aromatic 1121 variety of basmati paddy has begun in Fazilka grain market today after a 10-day deadlock between commission agents and rice mill owners over the schedule of payment.

Sources said outsider private traders, exporters and rice mill owners would have to pay cash payment to commission agents while the local mill owners would make the payment as per the old schedule on settled due dates.

The market committee sources said nearly 60,000 quintals of paddy had arrived in the local grain market and its 17 purchase centres so far. Out of which 12,000 quintal had been sold till today evening.

Bringing some relief to basmati producers, the prices of basmati has increased to about Rs 500 per quintal as compared to the previous year during the corresponding period. The PUSA 1121 paddy was selling at the price of about Rs 1,650 last year during these days, but now its price has gone up to Rs 2,200 per quintal. The paddy fetched maximum Rs 2,201 per quintal after the commencement of the purchase today.