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Business News/ News / India/  Govt to sell Bharat Rice in retail market at 29 a kg
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Govt to sell Bharat Rice in retail market at ₹29 a kg

Bharat Rice will be available in 5 kg and 10 kg packs through the Nafed, NCCF, and Kendriya Bhandar. In the first phase, the government has allocated 500,000 tonne for sale in the retail market

Despite export restrictions on various varieties, retail and wholesale prices of rice have increased 13.8% and 15.7% on year. (Image: Pixabay)Premium
Despite export restrictions on various varieties, retail and wholesale prices of rice have increased 13.8% and 15.7% on year. (Image: Pixabay)

New Delhi: The government will launch retail sales of Bharat Rice at 29 per kg from next week to provide relief to consumers. It has also directed traders to disclose rice stock to control prices.

“Despite export restrictions on various varieties, retail and wholesale prices of rice have increased 13.8% and 15.7% on year. To control prices and check inflationary trends in the food economy, the government has decided to sell subsidised Bharat Rice at 29 per kg in the retail market from next week,"  said union food and public distribution secretary Sanjeev Chopra.

Bharat Rice will be available in 5 kg and 10 kg packs through the National Agricultural Cooperative Marketing Federation of India Ltd (Nafed), the National Cooperative Consumers' Federation of India Ltd (NCCF), and the retail chain Kendriya Bhandar. In the first phase, the government has allocated 500,000 tonne of rice for sale in the retail market.

Mint had earlier reported, quoting government officials, that the government may offer Bharat Rice at 29 per kg to consumers through the cooperatives to curb prices and that 500,000 tonne of Food Corporation India (FCI) rice will be offloaded initially for retail sale.

The government is selling Bharat Atta at 27.50 per kg and Bharat Dal (chana) at 60 per kg.

Regarding rice or paddy stock disclosure, Chopra said that stock position of the foodgrain must be declared by traders, wholesalers, retailers, big chain retailers and processors or millers in all states and union territories until further orders. 

The stock position of all rice categories--broken rice, non-basmati white rice, parboiled rice, basmati rice and paddy --will have to be declared on the portal of the department of food and public distribution every week. 

Chopra also said the government has no plans to lift restrictions on rice exports until domestic prices stabilise.

Asked whether the government will impose a stock limit on rice, the food secretary said, “There is no such plan immediately. Stock position is comfortable. However, all options are open to bring down the prices." He said prices of all essential food items are under control except rice.

On wheat management, the government continues to release stock into the market through weekly e-auctions to increase availability and control prices, with a target to offload a total of 10.1 million tonne, of which 7.5 million tonne have already been sold under the open market sale scheme (OMSS). 

The strategy includes enhancing the weekly auction quantity of wheat to 500,000 tonnes and increasing the lot size to 400 tonnes to meet market demand.

 

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ABOUT THE AUTHOR
Puja Das
Puja Das is a New Delhi based reporter, covering food, farm, fertiliser, water, and climate change policies for Mint. Puja reports on food security, farmers' distress and how the agriculture sector is impacting India's rural economy along with policy initiatives to help meet the pledges made at COP21 in Paris. Puja holds a post-graduation degree in Broadcast Journalism from the Indian Institute of Journalism & New Media, Bangalore.
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Published: 02 Feb 2024, 06:09 PM IST
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