The government is likely to take a call on a plan to sell Rice at subsidised rates in the retail markets from its surplus stock within a week under the ‘Bharat Rice’ initiative, sources said.
Scope including pricing & pack sizes under the talkative stage. The plan is designed to lower the retail prices of mass-consumption rice varieties, which have remained unwaveringly high regardless of restrictions on certain exports and open market sales by the Food Corporation of India.
Trade sources are however dubious regarding this initiative. Currently, Chana Dal and Atta are being sold at subsidised rates of Rs 60/kg and Rs 27.5/kg by the government through farmers’ cooperative Nafed and NCCF and Kendriya Bhandari stores under Bharat Dal and Bharat Atta initiatives.
Prices of rice rose by 12.33% in December and it is at an elevated level since October 2022 despite the government’s attempt to sell surplus rice in the open market from the FCI stock.
Food minister Piyush Goyal on Saturday said, “Let me examine the issue of the increase in rice prices and will initiate appropriate measures to address it,”.To improve domestic supplies, the government banned exports of white rice and imposed 20% export duties on par-boiled rice last year.
Meanwhile, Goyal on Sunday stated that the FCI’s open market sale scheme has proved to be an effective tool in moderating the prices of essential commodities like wheat and rice.
“Bharat Atta, Bharat Dal, interventions regarding Onion and Tomato have assisted the Government of India in price stabilization,” Goyal said at the 60th foundation function of FCI.
“We should adopt technology and digitisation to improve operational efficiency and the amount we are spending, how we can control and reduce expenditure,” Goyal urged FCI.