Government Directs Industry to Immediately Reduce Non-Basmati Rice Price | Commodities Corner
Published on: December 19, 2023.
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Reduce Non-Basmati Rice Price: Government Directs Industry
The Union government has issued a directive to rice industry associations to lower the retail price of non-basmati rice immediately. This move comes in response to the Reserve Bank of India’s concern over a 12% year-on-year increase in rice prices.
In a chat with Dr. Prem Garg, National President of the Indian Rice Exporters Federation, Manisha Gupta discusses the implications of this directive.
The rising price of rice has been a cause for concern not only for consumers but also for the government. To address this issue, the government has stepped in and instructed industry associations to take immediate action to reduce the retail price of non-basmati rice.
Lowering the price of rice will not only benefit consumers but also help stabilize the overall inflation rate. Rice is a staple food in India, and any increase in its price has a direct impact on the cost of living for millions of people.
The government’s directive is aimed at ensuring that the benefits of reduced prices reach consumers as soon as possible. It is expected that rice industry associations will work towards implementing this directive promptly and effectively.
In her conversation with Dr. Prem Garg, Manisha Gupta discusses the significance of this directive. She delves into the reasons behind the increase in rice prices and the impact it has on the Indian economy. Dr. Garg provides insights into the challenges faced by rice exporters and the measures that can be taken to stabilize prices in the long run.
With the government’s intervention, it is hoped that the retail price of rice will come down, providing relief to consumers who have been burdened by rising food prices. The directive is a step towards ensuring food security and affordability for all.
Key Statistics:
– Rice prices have increased by 12% year on year.
– The government has issued a directive to lower the retail price of non-basmati rice immediately.
Impact on Consumers:
The rising price of rice directly affects the cost of living for millions of people. Lowering the retail price will bring relief to consumers and help stabilize overall inflation.
Expert Opinion:
Dr. Prem Garg, National President of the Indian Rice Exporters Federation, discusses the implications of the directive and shares insights into the challenges faced by rice exporters.
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