Ponni Sona Masuri prices jump 50% amid southern low rainfall
Business
Premium rice like Ponni and Sona Masuri just got a lot pricier, think 50% more expensive than before.
Blame it on much less rain in southern states like Tamil Nadu, Karnataka, Andhra Pradesh, and Telangana this year, which led to much less paddy being planted.
The Agriculture Ministry says paddy fields shrank by 16.97 lakh hectares nationwide.
Andhra Pradesh rice ₹6,200 per quintal
In Andhra Pradesh, top-grade rice now costs ₹6,200 per quintal (up from ₹4,000), with premium varieties selling around ₹80 per kilogram.
Experts warn production could fall by over 10 million tons.
Government reserves (39.1 million tons (39.1 mt) of rice stocks) are helping keep things stable for now, so prices shouldn't go higher than basmati anytime soon.