New Delhi: Renewed uncertainty regarding the movement of commercial vessels through the Strait of Hormuz (near Iran) has raised concerns about the impact on India's exports—particularly Basmati rice—to West Asia, the Middle East, and the Gulf region. Consequently, rice millers, processors, and exporters in domestic wholesale markets are showing less interest in purchasing Basmati paddy. While some markets are witnessing good paddy arrivals, Basmati rice trading has slowed down, leading to a softening of prices.

During the week of July 11–17, despite low arrivals at Delhi's Narela market, the price of '1509 Hand' paddy dropped by ₹300 to ₹3,950 per quintal. However, in the Bhatapara and Rajim markets of Chhattisgarh, paddy prices saw an increase of ₹30 to ₹100 per quintal, even amidst good supplies; 'A' grade paddy arrivals are high in these regions.

Markets in Jahangirabad and Shahjahanpur, Uttar Pradesh, received daily supplies of approximately 10,000 bags of paddy each. In Jahangirabad, the price of '1509' paddy rose by ₹207 per quintal. In Shahjahanpur, paddy arrivals increased to reach 30,000 bags, yet prices remained relatively stable without significant fluctuations.

In the Bundi and Kota markets of Rajasthan, prices rose by ₹100–200 per quintal alongside normal paddy arrivals. Prices also remained firm in the Gondia market of Maharashtra.

As for rice, prices generally remained stable or softened. A decline of ₹200–300 per quintal was recorded in Amritsar (Punjab), Nagar (Uttarakhand), and Naya Bazar (Delhi) due to reduced trading activity across various rice varieties and grades. Although buying by exporters is currently sluggish, traders from other regions are purchasing rice in small quantities, preventing a sharp drop in prices.

The acreage for Kharif paddy is trailing behind last year's figures, and monsoon conditions remain weak. Offer prices for non-basmati rice exports are rising, while export performance remains steady.