Basmati Rice Price Outlook

In aromatic rice segment Agriwatch expects the current trend (steady to weak) to continue despite price hovering at season’s bottom level. However, basmati average fob price improved slightly from $980/tonne to $986/tonne in the month of January. But its not a sign of firmness. As prices are ruling below the level of normal market expectation some improvement may be possible in the month of February. Despite higher stock in the local market and lower prevailing prices, stockiest may retain stock until March (when fresh buying interest is expected from overseas buyers) to fetch better price for aromatic rice.......Agriwatch