Chandigarh, Sept. 19 -- As of Thursday, a total of one lakh tonnes of freshly harvested premium aromatic basmati crop has arrived in Punjab's mandis, with prices ranging from Rs.2,300 to a high of Rs.3,800 per quintal.

During the previous season, the crop fetched a maximum price of Rs.3,295 per quintal. "There is a fear of premium grain scarcity caused by crop damage from floods which led to the price rise," said vice-president of the basmati exporters association Ranjit Singh Jossan.

According to him, in the beginning of the season, due to the imposition of 50% tariffs by the US on Indian exports, it was apprehended that the prices would fall, but the floods have turned the tide. "We expect prices to rise further when the harvest picks...