Rice
Less rainfall in Bihar, Jharkhand cause domestic rice prices shoot up by 7 pc
New Delhi: Domestic prices of rice have increased 3-7 percent in the last seven to 10 days over the anticipated fall in Kharif paddy production, especially in Jharkhand and Bihar, owing to below-normal rainfall, according to media reports.
India being the only producer of fine quality parboiled rice, export prices of this staple has also risen during the period.
An ET report said citing traders that the prices may cool in the coming weeks as continuous rains since August 15 in the paddy-sowing areas of West Bengal, the largest producer of rice in India, may help save at least 90 percent of paddy in the eastern state.
However, rainfall in Bihar is still deficient, nearly 40 percent less than normal.
The Bihar government has started distributing short-duration paddy seeds in a bid to boost production, but these wouldn't help in increasing the overall output, farmers said, according to the report.
As of August 21, the rainfall deficit in East and Northeast India was 18 percent.
West Bengal produced 16.6 million tonnes of rice from more than 4.3 million hectares last season.
Prices of premium rice varities have increased by more than 15 percent, compared to those exported, said the report.
The more premium varieties like Sona Masoori, HMT, etc grow only once a year in some pockets, including Bihar and Jharkhand, and the incraesed imports by Bangladesh of premium Indian rice has further added to the worries, according to Rice Exporters Association president BV Krishna Rao, the report said.
However, there is no concern about the long grain varieties that go to the public distribution system and also exported as they grow in 90 days and two to three times a year, Rao added.
Rice prices usually stabilise in the next two months when new crops arrive in October/November, he added.
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