Last Updated: Feb 03, 2024
Tweeted By AIR
In a bid to counter the upward trend in rice prices, the Government has issued orders mandating entities stocking rice including Traders, Wholesalers, Retailers, Big Chain Retailers, Processors and Millers to disclose their stock from next Friday. Addressing a press conference in New Delhi yesterday, Secretary, Department of Food and Public Distribution, Sanjeev Chopra said that the Food and Public Distribution Department will oversee the disclosure, categorising stocks into broke rice, basmati, and non-basmati and other varieties. Mr. Chopra said that the Government aims to send a clear signal to entities that are hoarding rice stocks. He further announced that Bharat Rice will be launched next week, priced at 29 rupees per kilogram. Mr. Chopra said that it will be available at retail outlets such as NAFED, Kendriya Bhandar, National Cooperative Consumers’ Federation. He further added that to address regions with higher-than-average rice prices, the government will target specific centres for intervention, aiming to stabilize prices.
The Government also clarified that there is no proposal to revisit export restrictions until prices are under control. Mr. Chopra said that the decision to mandatory stock closures and the introduction of Bharat Rice at affordable rates underscores the Government’s dedication to stabilising the market and ensuring food accessibility for all. Talking about the Government initiatives to increase the availability of wheat in the open market and to control the prices of wheat, Mr. Chopra said that the government has decided to enhance the quantity of wheat being offered under OMSS in the weekly auctions to 5 Lakh Metric Ton and also increase the lot size to 400 Metric Ton.