Rice prices to be 14-15% higher than last year: KRBL

KRBL, which saw a de-growth in the first quarter of FY17, is expecting to end the year by 8-10 percent growth in volumes and topline. Even if the company does not receive any big order from the government, it will close at minimum growth of 10 percent, says Anil Mittal, CMD of the company. Some price hike is expected in coming quarters, says Mittal adding that a 14-15 percent rise to Rs 22,000-23,000 is possible this year. Swing of Basmati rice has been lower despite bumper Kharif crop this season.This will lead to shortage of rice by around 20 percent, Mittal says. However, Iraq and other countries are expected to buy rice post October-November, which will boost volumes. Watch video for full interview..