Fresh rise in POL rates, exporters' demand push rice prices up on grain market

New increase in petroleum prices and rising demand by the exporters caused sharp increase in the rice prices on the wholesales grain and seed market on Monday, dealers said. Upward trend was seen on the cereal side where barley Sindh and Mardan prices gained Rs 50 to Rs 2550. Khandsari low type did not show any change in the weekend level at Rs 9000 while the good type lost Rs 500 to Rs 9500, other items maintained weekend levels in process of trading, they said.
On the rice sector, Irri-9 Sindh rose sharply by Rs 400 to Rs 4500-4600 just after fresh rise in the oil prices in the domestic markets. As a result further rise was seen in trucks' fare and charges, they said. Secondly, another adding factor behind the upward trend was emerging demand by the rice importers, they added.
Irri-6 Sindh low type rose by Rs 25 to Rs 2425 Rs 2450, Basmati/D-98 Shahadadkot low type gained Rs 700 to Rs 5500 and best quality was up by Rs 800 to Rs 5800. Basmati No 386 old and new both types gained Rs 300 to Rs 5500 and by Rs 200 to Rs 5600. Super Basmati sindh low type appreciated by Rs 500 to Rs 6500 and best quality was higher by Rs 400 to Rs 6600. Sela Basmati low type also gained Rs 500 to Rs 5500 and good type was up by Rs 400 to Rs 5600 and super sela karnal low quality moved up Rs 300 to Rs 7800 and best type was higher by Rs 200 to Rs 8000, they said.
On the seed side cottonseeds oilcake with bag inferior type rose slightly by Rs 5 to Rs 1275 while the good type was unchanged Rs 1300, other items retained at the week-end levels, they said. Rates on the grams side, stayed put during the session, they said.