Price of Basmati rice, edible oils & pulses increase ahead of festive season

Rice

Dried Common Pea

India

Published Oct 7, 2021

Tridge summary

Prices of basmati rice, edible oils and pulses are riding high going into the festive season, a dampener for consumers. Dry spells in August followed by heavy showers in September have impacted the basmati and pulses crop. The 1509 basmati rice variety that is used in biryani saw a 36 per cent jump in prices at the wholesale level compared to last festive season.

Original content

Prices of basmati rice, edible oils, and pulses are skyrocketing as the festive season approaches, putting a damper on consumer. The basmati and pulse crops have been harmed by dry spells in August followed by heavy rains in September. The wholesale price of the 1509 basmati rice variety used in biryani increased by 36% compared to the previous festive season. Rains have damaged the quality of pulses, and certain kinds of pulses have seen price increases ranging from 10% to 12%. However, edible oil costs have decreased by Rs.10 per litre in the last two months, but there is no chance of additional price reductions in the short term since worldwide prices remain high. However, traders believe that the price increase will have little effect on consumer demand for these essential commodities because consumer sentiment is positive. There is a lot of unmet demand in the market, and with covid cases decreasing and vaccination rates increasing, consumer purchases are on the rise. “Most ...

Source: Krishi Jagran