government directs industry to immediately reduce price of non-basmati rice
Published on: December 20, 2023.
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Government Directs Rice Industry to Reduce Prices
In response to the rising prices of rice, the Indian government has directed rice industry associations to immediately reduce the retail price of non-basmati rice. This move comes after the Reserve Bank of India flagged a 12% year-on-year increase in rice prices.
To discuss this issue further, Manisha Gupta speaks with Dr. Prem Garg, National President of the Indian Rice Exporters Federation.
Dr. Garg emphasizes the importance of addressing the rising prices and states, “It is crucial to take immediate action to alleviate the burden on consumers.”
The directive from the government aims to ensure that rice becomes more affordable for the general public. This decision is expected to provide relief to consumers who have been adversely affected by the increasing prices of rice.
According to the government, the increase in rice prices has put a strain on households across the country, particularly low-income families who heavily rely on rice as a staple food.
To combat this issue, the government has urged rice industry associations to take necessary steps to lower the retail price of rice. It is hoped that this reduction in price will alleviate the financial burden on consumers and promote access to affordable food.
The government’s directive is in line with its commitment to prioritize the welfare of its citizens and ensure access to essential commodities at reasonable prices.
Rice, being a staple food in India, is an essential item for households across the country. Therefore, it becomes critical to address any significant price fluctuations that impact the affordability of this essential commodity.
The government’s decision is expected to have a positive impact on the general public, especially the economically vulnerable sections of society.
Rice industry associations, in collaboration with the government, will work towards implementing the necessary steps to reduce the price of non-basmati rice. This collaborative effort aims to cushion the impact of increasing rice prices on consumers.
It is important to note that the reduction in prices will not compromise the quality or nutritional value of the rice being offered in the market.
The Indian Rice Exporters Federation plays a crucial role in ensuring the smooth functioning of the rice industry and promoting the interests of rice exporters. Dr. Garg, as the National President of the Federation, is actively involved in addressing the challenges faced by the industry and finding viable solutions.
Through such discussions and directives from the government, efforts are being made to stabilize and regulate the rice industry, ensuring fair prices for both producers and consumers.
With the implementation of this directive, it is expected that the retail price of rice will witness a decline, bringing relief to consumers across the country.
Source: Moneycontrol
