Centre orders stock disclosure of rice for traders, big chain retailers

To counter food inflation and speculation, India's government mandates traders, retailers, and processors to declare their rice and paddy stocks by category in all states. They must report Broken, Non-Basmati White, Parboiled, Basmati Rice, and Paddy stocks until further notice.

To address inflation, the government initiates retail sales of 'Bharat Rice' to the public, starting with 5 LMT through NAFED, NCCF, and Kendriya Bhandar at Rs 29/kg, available in 5 kg and 10 kg bags. Initially, sales will be via mobile vans and physical outlets, later expanding to retail chains and e-commerce platforms.

Despite ample FCI stocks and export regulations, domestic rice prices surged by 14.51% last year. To mitigate this, FCI offers quality rice at Rs 29/kg under OMSS, reducing the reserve price to Rs 2900/Qtl and adjusting quantities. Extensive FCI publicity led to record sales of 1.66 LMT rice under OMSS (D) by Jan 31, 2024.

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