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Surplus Stock Of Rice To Keep Domestic Price Under Control: Centre

The domestic price of rice is in comfortable position and the prices will remain well under control, said the food ministry

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The central government on Friday saif that due to surplus stock of rice, the domestic price of rice will be under control as compared to international market and neighbouring countries where the price is comparatively high.

In an official notification by Ministry of Consumer Affairs, Food and Public Distribution, it was said that 217.31 LMT rice is in government buffer stock which is higher than the buffer stock norm. In the upcoming kharif season, 510 LMT and in rabi season, 100 LMT of rice will be procured. The buffer stock maintained by the country is more than enough to meet the demand for the public distribution system.

The government intervention by prohibiting export of broken rice and imposing 20 per cent duty on the export of basmati and non-par boiled rice will further help in containing the situation, the statement claimed.

Due to surplus stock of rice, the domestic price of rice will be under control as compared to international market and neighbouring countries where the price is comparatively high. The percentage increase in the MSP of paddy in last year was 5.15 per cent. The actual increase in price of rice is around 3 per cent, due to increase in MSP and other input costs. The domestic price of rice is in comfortable position and the prices will remain well under control.

All India domestic wholesale prices of rice and wheat decreased by 0.08 per cent and 0.43 percent respectively over the week.


Tags assigned to this article:
rice kharif crop rabi crop