Paddy Prices Rises to Rs 3692/Quintal: Market Trends & Insights

Key Highlights

• Paddy prices have risen above MSP in many markets.
• Maximum price reached Rs 3692 per quintal in Tamil Nadu.
• Prices are stable with minor fluctuations expected.
• MSP for normal paddy is Rs 2300 per quintal.
• Farmers are advised to check local market rates before selling.

Positive news for paddy farmers as paddy prices continue to rise across the country. In recent times, the prices of paddy (rice) have exceeded the minimum support price (MSP) in many markets, bringing hope to farmers. With the current trend, farmers growing paddy in the ongoing Kharif season could see significant profits in the near future. Those holding onto their produce may also have a lucrative opportunity to sell it now, as the experts predict stable paddy prices throughout the year.

Also Read: Government Offers ₹4,000 Assistance for Paddy Cultivation: How to Avail the Benefit

Current Paddy Prices in Major Markets

In several states, paddy prices have risen significantly. Here’s an overview of the prices in key markets:

Rajasthan: Paddy Prices in Major Markets

In Rajasthan, Bundi Mandi has recorded a price of Rs 3500 per quintal, while Baran Mandi's price stands at Rs 3000 per quintal.

Also Read: Paddy Prices Rise: Bundi Mandi Leads with Highest Rates | Market Trends & MSP 2024

Maharashtra: Paddy Prices in Key Markets

In Maharashtra, prices have also seen a rise:

• Gadchiroli Mandi: Rs 2820 per quintal
• Raigarh Karjat Mandi: Rs 2450 per quintal

Uttar Pradesh: Paddy Prices in Major Markets

• Jahangirabad Mandi: Rs 2681 per quintal
• Aligarh Mandi: Rs 2560 per quintal
• Bulandshahr Mandi: Rs 2551 per quintal

Future Market Trends

According to market experts, the upward trend in paddy prices is expected to continue for some time. There may be minor fluctuations once the new Kharif crop arrives in the market, but no significant drop in prices is expected before then. Farmers can anticipate stable profits, especially if the current trend holds.

Minimum Support Price (MSP) for Paddy 2024-25

The central government has set the MSP for normal paddy at Rs 2300 per quintal, while the MSP for Grade A paddy is fixed at Rs 2320 per quintal. This MSP ensures that farmers get a fair price for their produce, but the current market prices are significantly higher than the MSP, offering farmers even greater returns.

Advice to Farmers

While the prices listed above may reflect the maximum rates in major markets, it is also essential for the farmers to check the local rates in their nearby markets before selling their crops. Staying informed will help them make the most profitable decisions.

Also Read: Central Government Targets Record Paddy Purchase at MSP for Kharif Season 2024-25

CMV360 Says

The continuous rise in paddy prices presents a profitable opportunity for farmers. By staying informed about local market rates and future trends, they can also maximize their earnings. With stable prices expected for the rest of the year, now is an ideal time to sell paddy.