With the harvesting of early-maturing varieties of basmati rice has gathered pace in Haryana, the prices have witnessed a decline of around ₹500 to ₹700 per quintal, as a sharp rise in arrivals in the mandis has put pressure on the market.
According to the reports from some grain markets, the prices of Pusa 1509 and Pusa 1692, which were selling at around ₹4,200 per quintal earlier this month, have now slipped to around ₹3,500 to ₹3,700 per quintal, resulting into a loss of around ₹10,000 to ₹12,000 per acre to farmers.
According to the traders and farmers in the state’s major basmati-growing belt, the fall in the prices was primarily driven by the increased arrival of paddy in the mandis over the past one week. Buying activity, they said, has not increased in proportion to the arrivals, leaving buyers with greater bargaining power.
“Arrivals have increased considerably with buyers purchasing according to their immediate requirement and there is no aggressive buying at present,” said Balbir Singh, a basmati trader.
The early varieties are among the first basmati varieties to enter Haryana’s markets and generally attract considerable interest from rice millers and exporters. Pusa 1509, in particular, is widely cultivated because of its shorter duration, allowing farmers to harvest it earlier than traditional basmati varieties.
Market participants said the actual price varies according to the quality, moisture content, grain length and recovery, with better-quality produce continuing to command a premium over the prevailing average
The pressure on prices is likely to persist if arrivals continue to rise faster than demand. However, traders said it was too early to conclude that the entire basmati market had entered a sustained downturn, as prices in the coming weeks would largely depend on domestic milling demand and, more importantly, export orders.
Haryana is one of the country’s key basmati-producing states with districts such as Karnal, Kurukshetra, Kaithal, Ambala, Yamunanagar, Sirsa and Fatehabad forming a major part of the basmati belt. However, the traders said that prices of the basmati rice still remain higher than the last year when farmers had sold their produce around ₹3,000 per quintal.
Traders also said that basmati rice has become costlier as the US-Iran conflict has prompted several countries to secure food supplies, driving up global demand. According to the reports, basmati rice prices have risen by 15–20% in the first quarter of FY27 compared with the year-ago period, while non-basmati varieties have increased by 20–25% following deficient rainfall in parts of southern India.
With harvesting of other premium Basmati varieties like Pusa 1121, Moochal, Pusa 1718 and traditional basmati expected to pick up in the coming weeks, Haryana farmers are predicting a bumper basmati harvest after a gap of around five years.
Neeraj Mohan is a senior journalist known for his in-depth reporting on political, agricultural, environmental, and socio-economic issues. Currently serving with Hindustan Times, he has a reputation for grassroots journalism and extensive field reporting. Over the years, he has also worked with The Tribune and The Sunday Guardian, covering politics, governance, farmer movements, rural distress, environmental challenges, and public policy issues in North India. Alongside political coverage, he is widely recognised for his human-interest stories that highlight the struggles and aspirations of ordinary people. His journalism combines factual analysis with on-ground narratives, making his work insightful, balanced, and closely connected to grassroots realities.Read More