Farmers of the aromatic, long-grain staple basmati rice in Punjab and Haryana faced huge losses on account of low prices earlier this season and now when the prices have shot up, most of farmers are left high and dry as they have already sold their produce.
Rice industry experts believe there’s an urgent need for the governments to implement reforms in the rice intrade.
What is happening in Punjab and Haryana, where a majority of farmers are deprived of profits even after basmati rice prices have risen, could have been avoided had there been a better mechanism of payments.
In the markets of Punjab and Haryana, basmati prices have seen a sudden rise during the past few weeks. The basmati variety PUSA 1121 is now fetching between Rs. 3,000-3,100 a quintal, which was being sold in the range of Rs 1,300 to Rs 1,800 per quintal early this month. Besides, the price of the 1509 variety has also jumped to Rs. 1,800 a quintal as against Rs. 1,000-1,200 a quintal, traders said.
Farmers allege that traders and commission agents of being in hand in glove.
