Rice prices have increased for the fourth time in four months, with traders attributing the continued rise to supply failing to meet demand
Rice prices in Karnataka have increased for the fourth time in four months, with Kolam, Basmati, Jeera Rice, Rajamudi and Steam rice recording price hikes.
Bengaluru: Consumers in Karnataka are facing another rise in rice prices, with rates increasing for the fourth time in four months amid reported supply constraints. The continued price rise has left consumers confused about current rice rates. Traders have attributed the repeated hikes to insufficient rice supply to meet demand.
The latest increase comes as people in the state face multiple price-related concerns. At a cabinet meeting held on October 6 under the leadership of Chief Minister D.K. Shivakumar, the government was also reported to have decided to revise government bus ticket prices.
Karnataka Rice Prices Increase Across Varieties
The latest changes have affected several commonly purchased varieties of rice.
Sona Masuri Rice Reaches Rs. 100 Mark
The price of Sona Masuri rice has reached the Rs. 100-per-kg mark, while its price has increased by Rs. 400 per bag.
In the Yeshwantpur wholesale market, the price of a 25-kg bag increased from Rs. 1,430 to Rs. 1,820. Over the last two months, the price of Sona Masuri rice has increased by around Rs. 390 - Rs. 400.
In the retail market, Sona Masuri rice has reached Rs. 90 per kg. Traders have also said that rice prices could increase further in the coming days.
Rice Supply Fails To Meet Demand
The continued increase in rice prices has been attributed to supply failing to meet demand. Paddy production has reportedly been affected in Raichur, Sindhanur, Siraguppa and Bhadravati due to inadequate monsoon conditions.
The neighbouring states of Andhra Pradesh and Tamil Nadu have also reportedly recorded only around 50% rice yield, further increasing demand.
