Are there prospects of an increase in rice price?
Posted on: 06/Feb/2019 3:32:27 PM - No. of views : (3609)
The rice traders have assured that though the monsoon rain season utterly failed, there are no reasons to expect an increase in the price of rice. At the same time, with a substantial quantity of rice dispatched from the state of Andhra, there are indeed prospects of the rice price going down!
Rise occupies a very special and dominant position in the staple die of the people of Tamil Nadu! So, though the much-expected northeast monsoon failed utterly this year, and also with the farmers growing other crops, the yield of rice was substantially down this year in the state of Tamil Nadu.
With the above 2 major reasons, there were strong prospects of an increase in the price of rice, there is very welcome good news that the yield from rice crops has been higher this year in the state of Andhra and also the districts of Thiruvallur and Kanchipuram in the state of Tamil Nadu. Thus, a substantial quantity of rice has been despatched from Andhra as reported by the rice traders.
Red Hills in Chennai is considered to be the prime godown of rice storage and more than 50 trucks/lorries of rice arrive every day to this place. So, the traders state confidently that there are no prospects of any price increase of rice.
The traders who check the quality of rice and the negotiate for the final price and buy them. Subsequently, they send the rice to be converted into white rice in the modern rice mills and then seal the same at higher prices thus earning a substantial profit.
Further, the traders expressed their observation that there are indeed prospects of a reduction in rice price as higher quantities of rice keep arriving in Tamil Nadu.
