ICEX Basmati paddy down as supply woes ease amid partial opening of lockdown

KOLKATA: Basmati paddy prices on ICEX fell on Monday on expectation supplies of farm goods will ease in the wake of partial ease in lockdown in some parts of country from today.

May paddy on ICEX was at Rs 3,428 per 100 kg, down 0.5%.

Easing of lockdown to improve milling of paddy and increase supply of rice across consumption centres


Ramzan demand has softened now as consumers already stocked up for use in the 1-month holy period starting later this week.

Bulk buying by hotels, restaurants continues to remain absent weighing on prices.

Government's foodgrain production target of 298 million ton for 2021 also has a negative impact prices.

More importantly, IMD forecast of normal-to-excess rains favourable for increase in rice output.