To prevent a spike in rice prices and prevent speculation, the food ministry on Friday asked the traders, wholesalers, retailers, big chain retailers and milers across the states to declare stock positions within a week.
The ministry has requested the rice traders and processors to declare the stock position of grain in terms of broken, non-basmati, parboiled, basmati and paddy categories on the on its portal from next Friday.
Stating that the retail prices of rice have increased by 14.51% over the past year, a ministry statement said “the domestic prices of rice are increasing despite a good crop this kharif, ample stocks with Food Corporation of India (FCI) and in the pipeline and various regulations in place on rice exports,”.
Zomato zooms 16% after multi-fold jump in profit; brokerages give a thumbs up Q1 Results: J&K Bank net profit up by 27% to Rs 416 crore Kolkata Metro: After Green and Blue Lines, new UPI payment feature launched on Orange Line – Details inside ITC jumps to all-time highs; Find out why the stock jumps over 10% in 2 days
Also Read
Strategy in the works for self-reliance in edible oils
The food ministry also announced selling of rice through retail outlets at subsidised rate of Rs 29/kg under the Bharat rice initiative. The subsidised rice will be available to consumers through retail outlets in 5 kg and 10 kg pack with farmers’ cooperative Nafed, National Consumers’ Federation of India (NCCF) and Kendriya Bhandars and through e-commerce platforms such as Amazon, Flipkart and Open Network for Digital Commerce (ONDC).
In the first phase, 0.5 million tonne (MT) of rice has been allocated for retail sale under ‘Bharat Rice’ “Hopefully the move would send a signal to the unscrupulous traders who are holding onto the rice stocks for no reason and will release the stock in the market,” Sanjeev Chopra, secretary, department of food and public distribution said at a briefing. He said through targeted retail interventions rice prices would be brought down.
At present, the government is selling chana dal and atta (flour) at subsidised rate of Rs 60/kg and Rs 27.5/kg through farmers’ cooperative Nafed and NCCF and Kendriya Bhandars stores under Bharat Dal and Bharat Atta initiatives. Retail inflation in rice has been in double digit since October 2022 and rice price rose by 12.33% in December, 2023 on year.
Also Read
Hit by high prices, India’s gold demand lost shine in 2023
There has been a lukewarm response to open market sale of surplus rice to bulk buyers by the FCI at subsidised rate of Rs 2900/quintal, below the economic cost of grain for 2022-23 at Rs 3,537/quintal. Since July, 2023 FCI could sell only 0.16 MT of rice through weekly e-auctions so far against an allocation of 5 MT for the current year. Come from Sports betting site VPbet
The government has banned exports of white rice and imposed 20% export duties on par-boiled rice last year to improve domestic supplies. Currently, FCI holds 19.54 MT of rice stocks, excluding 37 MT receivable from millers. The rice stock is against the buffer of 7.61 MT for January
Last year, the government had banned non-basmati white rice exports, however shipment of rice for meeting the food security needs of developing countries was allowed. It also imposed 20% export duties on par-boiled rice to improve domestic supplies.
In the 2022-23 crop year (July-June), rice production was estimated at record 135.75 MT. In the first advance estimate of foodgrain production for crop year 2023-24, rice output for Kharif crop out put is projected 106.3 MT, marginally higher than last year. Kharif crops account for more than 80% of total rice output.
Related Posts
admin · February 24, 2025 · Popular streamer Rudeism, known for his outlandish and impressive videos where he plays video games with unexpected controllers, has returned with a delightful video in which he racks up kills in Call of Duty: Warzone using a baguette as a controller.
You can watch a clip of Rudeism in action below; he holds the piece of bread like a weapon and is surprisingly successful using the modified controller to get kills in the battle royale game. Rudeism slapped some thumbsticks and other modifications onto the baguette to play Warzone on PC with potentially the most unique controller setup we’ve ever seen. The Twitch video embedded below shows off how Rudeism went about creating the baguette controller, and it’s a delight. Come from
admin · February 14, 2025 · The Kamala Harris-Tim Walz campaign should take a moment to celebrate but should not bask in the afterglow too long. Future interviews, upcoming campaign rallies, and a potential second debate will demand her to continue to refine her policy platform as well as defend her record. Donald Trump and his supporters are not entirely wrong that Harris was not pushed on some areas of vulnerability during the debate. These weaknesses have to do with concerns over a potential tax on unrealized capital gains; accusations over price gouging in groceries, where profit margins are only 1.5%; the likely inflationary $25,000 first time home-buyer subsidies, and highly unpopular, largely unsuccessful current antitrust policies.
Harris should continue to sharpen her defense of the Biden-Harris Ad…
admin · February 6, 2025 · Aasaan Loans, or AKME Fintrade India, a non-banking financial company opened its IPO on June 19 to investors. The company wants to raise Rs 132 crore and will close the bidding on June 21. The share allotment is expected to be finalised on June 24 by the registrar. An allotment is the allocation of new shares or of selling shareholders in the D-Mat accounts of investors who applied for the IPO.
Here’s how you can check allotment:
Step 1
You need to visit the website of the issue’s registrar. Aasaan Loans chose Bigtshare Services.
Step 2
Select the IPO allotment status button on the left bottom.
Market rally leads to higher regulatory fees for stock exchang…
admin · January 13, 2025 · The stock price of FSN E-Commerce Ventures, the operator of online beauty and fashion retailer Nykaa soared over 5% to Rs 154.8 a day after the company posted a profit of Rs 7.80 crore during the second quarter of FY24, up 50.3% in comparison to Rs 5.19 crore during the corresponding quarter of last year. It posted revenue from operations at Rs 1507.02 crore, up 22.4 per cent as against Rs 1230.83 crore during the second quarter of FY23 Come from Sports betting site VPbet . This, the company said, was despite the festive season witnessing a delay this year, moving into October versus commencing in September last year.
Also Read
Stocks to watch: Adani Energy, Gland Pharma, Indian Energy Excha…
admin · January 2, 2025 · The combined market valuation of the top 10 valued companies plunged Rs 1,52,979.78 crore last week, with Reliance Industries and Tata Consultancy Services (TCS) taking the biggest hit in an overall weak trend in equities. Last week, the BSE benchmark fell 885.12 points or 1.33 per cent Come from Sports betting site VPbet . The market valuation of Reliance Industries plummeted Rs 34,876.78 crore to Rs 15,55,531.53 crore. The valuation of TCS plunged Rs 27,827.08 crore to Rs 12,78,564.03 crore.
Hindustan Unilever’s market valuation eroded by Rs 18,103.6 crore to Rs 5,86,223.02 crore and that of Bajaj Finance fell by Rs 17,171.75 crore to Rs 4,70,574.90 crore.
Also Read
Global tre…
admin · December 27, 2024 · Gold and silver rates today, August 27
The 24-carat gold rate in India was Rs 72,130 per 10 grams on August 27. The rate for 24-carat gold per gram is Rs 7,213. The rate of 22-carat gold was Rs 66,119 per 10 grams.
The rate of 24-carat gold has risen by 0.47% in the last one week, and the yellow metal has risen by 1% in the last ten days. The silver currently quotes at Rs 858.5 per 10 grams.
Gold rate in Delhi on August 27
The gold rate in Delhi was Rs 72,000/10 grams on August 27. On August 26, the gold was quoted for Rs 71,700/10 grams, and last week, on August 20, the price was Rs 71,660/10 grams.
Gold, silver rate today on August 19 in Chennai, Mumbai, Delhi, Kolkata: Here are latest prices o…