Rice prices fall by 25pc due to bumper crop
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Rice prices have fallen by 25 percent, and the wholesalers have termed the pumper crop behind the fall in prices, reported 24NewsHD TV channel on Wednesday.
The price of the Irri 6 rice has fallen by Rs25 to Rs125 per kg while that of the Irri 9 rice has fallen by Rs30 to Rs190.
The price of the 86 Old rice has fallen by Rs25 to Rs210 per kg while that of the 86 New rice has fallen by Rs46 to Rs161 per kg.
The price of the Sella rice fell to Rs260 per kg from Rs335 while that of the Basmati rice fell from Rs370 to Rs250 per kg.
Wholesale Grocers Vice Chairman Ismail Agar said that the crop had been affected due to floods the previous year.
“But, the rice prices fell significantly due to the bumper crop this year,” he added.
He said that exporters had set a target to export Rs3 billion tonnes of rice.
“The rice export was good last year. This year’s export target will be met due to pumper crop,” he expressed optimism.
Reporter: Kawish Memon