India’s rice was exported to foreign countries in the wake of sudden demand from Bangladesh, Sri Lanka and African countries. In addition, there is information about the export of rice from Bangladesh to China. In this background, there is a shortage of rice in the local market, which has led to an increase in prices. A new crop of rice will come in November. However, due to heavy rainfall, it is doubtful that the expected amount of paddy will be produced this time. Thus, the price is likely to rise further in the coming days. Traders say that the GST burden is also the reason for the price hike.
Recently, it is difficult to run the rice mills due to labor problem and increase in electricity charges. Also, we sometimes buy paddy but store it for 8-12 months and make rice after it reaches maturity. Till then we will also bear the burden of maintenance cost. Governments should formulate policies in favor of mills, say rice mill owners.
* Due to GST blow on one hand and export process to foreign countries on the other hand, the price of rice has increased by 20% in two months. Right now there is no certainty as to how the new crop will arrive. It is not known what the condition of the crop will be in which states due to rain. In the current situation, the price of rice will not decrease.
-Rameshchandra Lahoti, Vice President, FKCCI
* Usually K.G. The price of rice is 1 to 2 Rs. It was rising. Now in two months K.G. 8 has been raised up to Rs. This is an abnormal price rise. Wholesalers are not buying rice due to price hike. They are saying that we will see after selling the stock. Govt should stop export. Or else the new crop should come abundantly. Till then the price will not decrease.
-Gururajshetty, Padmavathi Rice Mill, Karatagi, Koppal District
* Recently, 11 lakh bags of rice have been exported to Bangladesh from Gangavati region through railway. This is the main reason for the current rise in rice prices. Many big traders have stopped buying rice. Along with this, the increase in the price of rice will have an adverse effect on the industry and consumers.
-B. Chidanandappa, Proprietor, Sri Veerabhadreswara Rice Industries, Malebennur
APMC Wholesale Rate: Rice old rate and new rate are as follows-
* Sona Mussoorie (New) Rs.38, Rs.46.
* Sona Mussoorie (Old) Rs.46, Rs.50.
* Thick rice 27 Rs., 30 Rs.
Rice price hike in retail price
Type of rice; July Rate; Current rate
* Steam rice; 36-38 Rs.; 48 for Rs
* Sona Mussoorie; 52 Rs.; 58-60 Rs.
* Dosa Rice 30 Rs.; 34 Rs.
* Jeera Rice Rs. 110; 120 for Rs
(Source: Bhagwan Traders, Basavanagudi, Bangalore)