Government to Offer Bharat Rice at Rs. 29 per Kilogram in Retail Market Starting Next Week
Published on: February 8, 2024.
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New Delhi– In an effort to provide relief to the common man and control rising rice prices, the Centre announced on Friday that it will sell ‘Bharat Rice’ in the retail market at a subsidized rate of Rs 29 per kg. The government has also directed traders to disclose their rice and paddy stock. Union Food Secretary Sanjeev Chopra expressed confidence that these measures, along with export restrictions, will help in cooling down the prices.
Chopra made it clear that there are no plans to lift restrictions on rice exports anytime soon. The government’s first priority is to bring down rice prices, he said. While the prices of essential food items remain under control, rice prices have risen by 14.5% in retail and 15.5% in wholesale markets in the last year.
To control prices, the government will sell the subsidized ‘Bharat Rice’ through two cooperatives – the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and the National Cooperative Consumers’ Federation of India Ltd (NCCF). The rice will also be available at the retail chain Kendriya Bhandar and e-commerce platforms. ‘Bharat Rice’ will come in 5kg and 10kg packs.
In the first phase, the government has allocated 5 lakh tonnes of rice for sale in the retail market. This step will help check hoarding of rice, Chopra said.
Despite ample stock of rice in the government’s buffer stock and the domestic market, prices have continued to rise. Therefore, the government has ordered all entities stocking rice to disclose their stocks on the portal of the food department. This includes retailers, big chain retailers, wholesalers, and processors. This measure aims to encourage these entities to release their stocks into the market, which will help cool down the prices.
The government has already implemented various export regulations, including a prohibition on shipments of non-basmati white rice and broken rice. It has also imposed a 20% export duty on parboiled rice and a minimum export price of USD 950 per tonne for basmati rice. However, despite these measures, prices are still trending upward.
When asked about the possibility of imposing a stock limit on rice or banning shipments of parboiled rice, Chopra said that all options are open to reduce prices.
Chopra also clarified that there are no plans to lift restrictions on rice exports. He further stated that those holding stocks for export purposes should understand that the export regulations will remain in place for some time.
In order to manage overall food inflation and prevent speculation, traders, wholesalers, retailers, big chain retailers, and processors/millers must declare their stock position of rice and paddy in various categories such as broken rice, non-basmati white rice, parboiled rice, basmati rice, and paddy.
The government’s measures, including export restrictions, have successfully curbed the increasing trend of rice prices in the domestic market, the statement concluded.
Source: [Kashmir Observer](https://kashmirobserver.net)
