Poppy seeds price zoom at Rs 1.10 lakh a quintal in MP market

Don't want to miss the best from Business Standard?

In a first, the price of poppy seeds on Saturday soared to staggering Rs 1.10 lakh a quintal at Ratlam market in Madhya Pradesh, a trader said while attributing the rise to stoppage of its import from China and Turkey.

Poppy seeds were sold at Rs 1.10 lakh a quintal at Jaora Mandi (market) in Ratlam district while at Neemuch, the biggest market in the country for the oilseed, at Rs 97,000 a quintal, he said.

Poppy seeds are added for taste in different cuisines.

According to traders and farmers, this is perhaps the first such instance wherein the poppy price has gone through the roof.

"The prices of poppy seeds had ranged between Rs 55,000 to 60,000 a quintal in Jaora and Neemuch markets a week ago," they said.

A trader, Dipak Agrawal, said the price has gone up as import of poppy seeds from China and Turkey has been stopped.

"Poppy seeds from Malwa region of Madhya Pradesh are sold at Neemuch market. A total of 1,000 gunny bags were put on sale at the market on Saturday," he said.

Neemuch Mandi Inspector Dinesh Kumar Jain said, "The price of poppy seeds is galloping and touched Rs 97,000 per quintal here".

Cultivation of poppy seeds takes place in Malwa and in Mewar in Rajasthan.

After opium harvest, poppy seeds are extracted from the dry bolls of opium.