Govt to sell Bharat Rice at Rs 29/kg in retail; asks traders, processors to disclose rice stock
New Delhi, Feb 02 (WD):
The government’s recent announcement on Friday highlighted its initiative to address rising rice prices by introducing ‘Bharat Rice’ in the retail market at Rs 29 per kg starting next week. Union Food Secretary Sanjeev Chopra, in a press conference, emphasized that despite export restrictions on various rice varieties, both retail and wholesale prices have surged by approximately 15% over the past year. In response to this, the government aims to provide relief to the public by selling subsidized ‘Bharat Rice’ through cooperatives such as the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and the National Cooperative Consumers’ Federation of India Ltd (NCCF), as well as retail chain Kendriya Bhandar. Additionally, e-commerce platforms will participate in the distribution of ‘Bharat Rice.’
Chopra outlined the logistics of this intervention, stating that the rice will be available in 5kg and 10kg packs, with an initial allocation of 5 lakh tonnes for the retail market. The government has already been selling ‘Bharat Atta’ at Rs 27.50 per kg and ‘Bharat Dal’ (chana) at Rs 60 per kg. To dispel market rumors, Chopra clarified that there are no immediate plans to lift restrictions on rice exports, and they will continue until prices stabilize. The secretary also disclosed that the ministry is taking proactive steps, directing retailers, wholesalers, and processors to disclose their rice stocks on a weekly basis through a dedicated portal.
In response to questions about potential further measures, Chopra asserted that “all options are open” to bring down rice prices. He acknowledged that while prices of essential food items are generally under control, rice remains an exception. This comprehensive strategy aims to alleviate the economic burden on consumers and regulate the rice market effectively.
