Synopsis
Although cyclone Sitrang has not made landfall in India, it has battered coastal regions of Bengal and brought heavy rainfall in Assam.
The price of rice has risen by about 5% in the last five days over fears that cyclone Sitrang could damage the crop in West Bengal, the largest producer of the grain where harvesting is underway.
However, the prices are expected to soften by 10% within the next fortnight, when the new crop starts arriving from Uttar Pradesh, Bihar, Jharkhand, West Bengal and Maharashtra, accoring to experts.
Although cyclone Sitrang has not made landfall in India, it has battered coastal regions of Bengal and brought heavy rainfall in Assam.
“Prices of rice have gone up by 5% in anticipation that cyclone Sitrang will destroy paddy crop in West Bengal. But the cyclone did not damage the crop much,” said Suraj Agarwal, CEO of rice marketing and exporting company Rice Villa. “However, the price will not come down unless the new crop comes in from different parts of the country.”
This year, rice production in India is expected to be less than that in 2021. The first advance estimates of production, released by the agriculture ministry, has pegged kharif rice production at 104.99 million tonnes during the current season, which is 6% lower than the previous season’s output.
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