According to sources Hafed had received a confirmed export supply order of 5,000 MT of Indian Sell Basmati Rice from a leading importer of Saudi Arabia.
As a result, Hafed has decided to procure around 20,000 MT paddy from different mandis to stabilise the market, reports the Tribune.
Sources said during the month of November 2021, there had been a sudden downfall in the market price of basmati rice and similar varieties.