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THE LEADING RICE INDUSTRY ASSOCIATIONS WERE ADVISED TO TAKE UP THE ISSUE WITH THEIR MEMBERS AND ENSURE THAT THE RETAIL PRICE OF RICE IS REDUCED WITH IMMEDIATE EFFECT.
The New Delhi Center has directed the rice industry associations to immediately reduce the retail price of rice. To review the domestic price situation of non-basmati rice, the Secretary, of the Department of Food and Public Distribution, Shri Sanjeev Chopra convened a meeting in New Delhi with representatives of leading rice processing industries where the domestic price of rice was discussed. Despite a good harvest this kharif, FCI has ample stocks and pipelines and rice exports are increasing despite various regulations.
The meeting focused on the point that the rice industry needs to ensure that the prices in the domestic market need to be brought down to optimal levels and efforts at profiteering dealt with strictly. The Annual Inflation Rate of Rice has hovered around 12% for the past two years and is cumulating over the years which is a cause of concern.
“During the meeting, it was discussed that the benefit of lower prices has to be passed on expeditiously to the end consumers. The leading Rice Industry Associations were advised to take up the issue with their members and ensure that the retail price of Rice is reduced with immediate effect. There are reports of a sharp increase in the margins being availed by wholesalers and retailers which needs to be tempered. Besides, it was suggested that where there exists a wide gap between the MRP and actual retail Price, the same needs to be brought down to a realistic level to safeguard the interest of the consumers,” said a Ministry of Consumer Affairs release.
FCI informed the Rice processing industry that sufficient stock of good quality Rice is available which is being offered under OMSS at a reserve price of Rs. 29/Kg. It was also suggested that manufacturers/traders may consider lifting FCI rice under OMSS which may be sold to the consumers with a reasonable margin.
The Department of Food & Public Distribution closely monitors and reviews the prices of Rice in the country and steps in whenever any intervention is required to ensure the affordability of Rice which forms an important part of the diet. The Indian consumers thus can expect to pay less for Rice in the coming days.
Source: Online/GFMM
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