Karnataka: Price of rice varieties skyrockets in southern districts

Amid complaints from farmers that paddy is fetching low prices, the price of rice varieties has skyrocketed in the southern districts of Karnataka.

According to grain merchants and the public, in the last one-and-a-half months, rates increased by a minimum of Rs 10 to 20 per kg in the retail market. With no rice available at subsidised prices under any scheme, middle-class families are worst hit by the hike.

According to CK Ganesh, director of Mysuru Grain Merchants Association, prices of rice jumped by Rs 15 to Rs 20 per kg due to various factors, including a shortage in the supply of 12-month to 24-month-old rice to the market, based on the variety. According to him, another six months is required for prices to stabilise.

“Generally, rice that is 12 months to 24 months old fetches good prices for suppliers. There is a shortage of supply in the state now. Even though paddy harvesting is complete, another year is required for the arrival of the rice made from this,” he explained.

“Once the old rice starts coming to the market, rates will fall,” he said.

Mysuru Hotel Owners’ Association president C Narayana Gowda said that in the wholesale market, the rates of all rice varieties increased by an average of 10%. “Not only rice, but the rates of several other grains also went up in the last few weeks,” he said.

However, farmers complain that the prices of paddy are falling. According to Badagalapura Nagendra, president of Karnataka Rajya Raitha Sangha, the paddy price is between Rs 1,600 and Rs 2,300. “The paddy prices continue to fall even though the central govt announced a minimum support price of Rs 2,300 per quintal,” he said.

This article has been republished from The Times of India.