Global Rice News

Rice Industry Representatives Discuss Rising Domestic Prices of Rice in India

In an effort to address the increasing prices of non-basmati rice in the domestic market, Shri Sanjeev Chopra, Secretary of the Department of Food and Public Distribution, held a meeting with leading representatives of the rice processing industry in New Delhi. Despite a good crop this Kharif season and sufficient stocks with the Food Corporation of India (FCI), prices of rice have been on the rise. This is a cause for concern as the annual inflation rate of rice has been hovering around 12% for the past two years.

During the meeting, it was emphasized that the benefit of lower prices should be passed on to the end consumers as quickly as possible. The rice industry associations were urged to communicate with their members and ensure a reduction in the retail price of rice immediately. Reports have shown that wholesalers and retailers are taking advantage of the situation by increasing their profit margins, which needs to be addressed. Additionally, the wide gap between the Maximum Retail Price (MRP) and the actual retail price of rice should be narrowed to protect the interests of consumers.

FCI informed the rice processing industry representatives that there is an ample stock of good quality rice available, which is being offered under the Open Market Sale Scheme (OMSS) at a reserve price of Rs. 29/Kg. It was suggested that manufacturers and traders consider purchasing rice from FCI under the OMSS and sell it to consumers with a reasonable margin.

The Department of Food and Public Distribution plays a crucial role in monitoring and reviewing the prices of rice in the country. They intervene whenever necessary to ensure the affordability of rice, as it is an essential part of the Indian diet. As a result of these efforts, consumers can expect to see a decrease in the price of rice in the near future.

Source: [Devdiscourse](https://www.devdiscourse.com)