Punjab-1509: After drop in price, paddy variety sees hike in Karnal

Parveen Arora

Karnal, September 23

Contrary to the apprehension of further dip in prices due to curbs on rice export, the basmati paddy again began fetching remunerative prices in Karnal district.

Though, “Pusa 1121” is yet to start arriving in grain markets, “PB-1509”, another basmati variety, is fetching between Rs 3,500 and Rs 3,700 per quintal after showing a dip in the first fortnight of September.

In August, when farmers of Uttar Pradesh were bringing their crops to the grain markets in the district, paddy “PB-1509” was procured between Rs 3,400 and Rs 3,800 per quintal, but when the farmers of Haryana started arriving at the grain markets in the first fortnight of September, the prices came down between Rs 2,700 and Rs 3,400 per quintal, the data of different grain markets revealed.

The reason behind the sudden hike is yet to be known, but, as per sources, rice exporters fear that if the rates of paddy fall further, the international buyers, who have already placed their orders at high prices, may cancel it. So to maintain a balance, the private players are coming to buy the paddy.

After the Union Government set a minimum export price (MEP) of US$ 1,200 per tonne, the rates of “PB-1509” witnessed a fall. But now, the rates have once again gone up.“I have brought around 20 quintal of paddy for Rs 3,565 per quintal today,” said Mann Singh, a farmer of Indri Block.

Similarly, Raj Kumar, another farmer of Nilokheri Block, said earlier this month, his relative sold paddy “PB-1509” for Rs 3,300 per quintal. Now, his crop was procured for Rs 3,600 per quintal.

The “PB-1509” paddy has surpassed the previous year’s arrival in the grain markets of the district. It has recorded around 63 per cent rise. So far, the district has witnessed the arrival of 19.73 lakh quintal, while last year till September 22, it was 12.07 lakh quintal, said the data.