The Hindu : Andhra Pradesh / Hyderabad News : Glut in rice sees dip in prices

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Sunday, Nov 07, 2010
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Andhra Pradesh

Andhra Pradesh - Hyderabad

Glut in rice sees dip in prices

Staff Reporter

Customers, however, continue to pay through the nose at retail outlets

— A file photo

Well-stocked: Compared to last year, prices have come down by at least

HYDERABAD: Here is some good news for those vexed with sky high prices of rice. The prices have come down in twin cities and elsewhere in the State. The bad news, however, is that the customers continue to pay through the nose because the retail outlets have not passed on the benefit.

Ever since the ban on export of rice to other States, wholesale dealers point out that prices have plummeted. While there is no export, import of rice from other States continues. As a result, there is a glut in rice reserves in the State and this has led to a sharp drop in prices. At least at the wholesale level!

Cost of a kilogram of rice, one-year-old Sona Masuri rice considered to be the best, now hovers between Rs. 22 and Rs. 24. And yet, at the retail outlets, the situation is quite different. Cost of 1 kg superfine variety of rice hovers between Rs. 30 to Rs. 37 at various retail outlets.

“Compared to last year, the prices have come down by at least Rs. 200 to Rs. 400 per quintal. There is just too much of rice in depots. Last year a kilogram of superfine rice was between Rs. 40 and Rs. 50. It is up to the retail outlets to offer attractive rates,” says president of Karmanghat Rice Traders Association, Sampat Kumar Chowdhary.

Direct purchase

Many traders suggest customers to pick up rice directly from mills and avoid paying hefty price. There are close to 70 rice mills spread in Karmanghat, Saroornagar, Uppal and Ramanthapur, Shamsheergunj, Kukatpally etc. “Customers can purchase rice directly from rice mills at wholesale rates. Presently, cost per quintal of best quality rice is between Rs. 2,100 and Rs. 2,200 and normal variety of rice is Rs. 1,750.

Customers should be made aware of these rates,” informs, A. Lakhsmi Narayana of A.P. Industries Association.

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