In a significant move to manage food inflation and curb unethical speculations, the Indian government has mandated the disclosure of rice and paddy stocks by various entities across states and union territories. The directive, released on February 2, requires wholesalers, retailers, big chain retailers, and processors to declare their stock positions of broken rice, non-basmati white rice, parboiled rice, basmati rice, and paddy every Friday through the Ministry of Consumer Affairs, Food and Public Distribution’s stock management system.
To further strengthen food security measures, the government is set to initiate retail sales of rice under the ‘Bharat Rice’ brand through three prominent agencies: the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED), the National Cooperative Consumers’ Federation of India Limited (NCCF), and Kendriya Bhandar. The initial phase will see 5 LMT of rice available for retail sale to general consumers at a competitive retail price of ₹29/kg, offered in 5 kg and 10 kg bags.
In a parallel move, the government has decided to amplify the quantity of wheat offered under the Open Market Sale Scheme (OMSS) in weekly auctions to 5 LMT, with an increased lot size of 400 MT. The Department of Food and Public Distribution is closely monitoring wheat prices, ensuring that the domestic wholesale and retail prices exhibit a decreasing trend.
As part of its comprehensive strategy, the government has allocated a total of 101.5 LMT of wheat for offloading under the Open Market Sale Scheme (Domestic) (OMSS-D) at a reserve price of ₹2,150/quintal for fair and average quality (FAQ) and ₹2,125/quintal for under-reduced specifications (URS). The weekly offering of wheat in e-auctions is gradually being augmented from 2 LMT to the current 4.5 LMT to cater to rising domestic demand and enhance availability.
This multifaceted approach, encompassing stock transparency and retail initiatives, showcases the government’s commitment to ensuring food security, stabilizing prices, and fostering a fair and efficient agricultural market.
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