Rice prices surge in India as demand outpaces supply amid weak monsoon

Rice prices are rising sharply in India's domestic market due to a supply-demand imbalance coupled with deficient monsoon rains. The Centre's decision to raise the minimum support price (MSP) for paddy to ₹2,441 per quintal from ₹2,369 has further fuelled the price increase.

Weak monsoon conditions have impacted crop output, tightening supplies in the market. The combination of lower production and steady demand is driving prices upward across major markets.