Paddy auction: Enquiries pour in as Telangana extends deadline

The rice exporters in certain States are running out of stock in respect of the rice varieties that are free from the Centre's export curbs

Hyderabad: Enquiries are pouring in from rice exporters as the State Civil Supplies Corporation has extended the late date till September 12 for receiving global tenders it had floated for auctioning 25 lakh metric tonnes of paddy procured from growers.

The rice exporters in certain States are running out of stock in respect of the rice varieties that are free from the Centre’s export curbs. They have been contacting the Corporation authorities for information about paddy varieties that the State had sought to dispose of. Quality related queries are also on the rise.

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Officials are hopeful that the paddy being auctioned may fetch a good price in the backdrop of the hike in the price of Basmati varieties that are free from export curbs. The curbs on the export of the boiled rice are also likely to go by October 16.

The State Civil Supplies Corporation invited global tenders for auction of about one of fourth of the one crore metric tonnes of stocks held by it because of storage related issues. It had set September 2 as the deadline for receiving the global tenders. However, the deadline was extended till September 12.

Initially it had sought to auction it in five lots of five lakh metric tonnes each. It was later modified to lots of one lakh tones each facilitating more buyers to participate in the auction. The Corporation had procured 65 lakh metric tons of Yasangi paddy till the end of June.

Stocks of another 55 lakh tonnes of paddy procured during Vanakalam 2022 were also with the Corporation. The corporation is likely to go for auctioning more stocks as it needs make more storage space available for the next procurement season to commence from October next.