India: Rice remains weak on lack of buying support

Rice remained weak in the wholesale grains market over the weekend in India owing to slackened demand coupled with increased arrival.  Marketmen said increased arrival against lack of buying support mainly pulled down rice prices. Weak upcountry advices also influenced the market sentiment to some extent, they said. In the rice section, basmati common remained under pressure and yielded further ground at Rs.3650-3850from previous closing of Rs.3700-3900 a quintal on reduced offtake.