Centre Directs Rice Industry Associations to Immediately Lower Retail Prices of Rice

GG News Bureau
New Delhi, 18th Dec. The Centre has instructed Rice Industry Associations to immediately reduce the retail price of rice. This decision was made during a meeting in New Delhi between the Secretary of the Department of Food and Public Distribution Sanjeev Chopra, and representatives from the rice processing industry.

During the meeting, it was noted that despite a good crop this season, sufficient stocks with the Food Corporation of India (FCI), and regulations on rice exports, domestic rice prices continue to rise.

The rice industry must ensure that prices in the domestic market are lowered to optimal levels and prevent profiteering.

The annual inflation rate of rice has been around 12% for the past two years, which is a cause for concern.

To address this issue, the leading Rice Industry Associations were advised to discuss the matter with their members and immediately reduce the retail price of rice. There have been reports of wholesalers and retailers taking advantage of the situation and increasing their margins, which needs to be controlled.

Additionally, if there is a significant difference between the maximum retail price (MRP) and the actual retail price, it should be reduced to protect consumer interests.

FCI informed the rice processing industry that there is an ample supply of good quality rice available, which is being offered under the Open Market Sale Scheme (OMSS) at a reserve price of Rs. 29/Kg.

Manufacturers and traders are encouraged to consider purchasing rice from FCI under OMSS and sell it to consumers with a reasonable margin.

The Department of Food & Public Distribution closely monitors and reviews rice prices in the country. They intervene whenever necessary to ensure rice remains affordable, as it is an essential part of the Indian diet. Therefore, consumers can expect lower rice prices in the near future.