Bengaluru: Amid rising petrol, diesel and vegetable prices, consumers in Bengaluru are now facing another blow as rice prices have witnessed a sharp increase across varieties. Retail prices of rice have gone up by Rs 6 to Rs 10 per kilogram, while a 25-26 kg bag now costs nearly Rs 150 more than it did a few weeks ago.
Traders attribute the hike to growing demand and reduced availability in the domestic market. According to market sources, the Centre’s decision to permit exports of rice to several countries has resulted in lower local stocks, pushing up prices. Dealers warn that supply constraints could continue until the arrival of fresh stocks later this year.
Popular varieties such as sona masoori, steam rice, kolam and raw rice have all recorded significant price increases. The hike reportedly came into effect around 10 days ago and has already started impacting household budgets.
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“Rice prices have increased considerably, but demand has not fallen. People have no choice but to buy rice despite expressing dissatisfaction over the higher prices,” said N Sridhar, owner of Sri Guru Raghavendra Traders in Girinagar.
Market experts note that rice prices generally rise by only Rs 1 to Rs 2 per kilogram during the summer season. However, this year the increase has been much steeper due to a combination of export demand, lower inventories and global economic uncertainties.
Limited stocks, exports drive prices up
The price of sona steam rice has increased from Rs 43 to Rs 49 per kg, while sona raw rice has climbed from Rs 52 to Rs 59 per kg. Traders say exports to countries, including Sri Lanka, coupled with limited local stock, have contributed to the upward trend in Bengaluru markets.
The situation has been further influenced by global geopolitical tensions and disruptions in international trade routes, which have impacted commodity prices worldwide. Industry representatives believe rice prices may remain elevated until October or November, when fresh harvests begin reaching the market.
For consumers already grappling with higher fuel and vegetable costs, the latest increase in rice prices is expected to place additional pressure on household expenses in the coming months.
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