Pakistani Rice Prices Up Monday In Local Market

Pakistani rice prices showed an increase of 2 to 3 percent in two days in the local wholesale market on Monday. The supply position is tight due to short production this year as compared to last year. The plus point is that the rice production in India has been low and therefore, in short supplies. This has caused steep rise in the prices and providing the hoarders or profit-takers to create artificial shortage of this commodity.

In the local market, Super Basmati Sindh variety went up by Rs 50 (for the inferior type) to Rs 3,800 and the fine quality of the same item was higher by Rs 200 to Rs 4,000 for 100 kg. Super Karnal low type was up by Rs 200 to Rs 4,200 and good quality gained Rs 100 to Rs 4,300 as retailer were trying to cover the forward buying.