In a significant announcement, the Centre has decided to start retail sale of ‘Bharat Rice’ to general consumers. The move is aimed at tackling overall food inflation, the Ministry of Consumer Affairs, Food and Public Distribution said on Friday.

The ministry has informed that in the first phase of the sale, 5 LMT of rice has been allocated for retail sale under ‘Bharat Rice’ brand through 3 agencies that is NAFED, NCCF and Kendriya Bhandar.

Bharat Rice will be sold in 5 Kg and 10 Kg Bags, and will be available for purchase from mobile vans and physical outlets of the three central co-operative agencies to begin with, and it will also be available through other retail chains including e-commerce platforms very soon.

The government has also decided that the stock position of Rice/Paddy must be declared by Traders/Wholesalers, Retailers, Big Chain Retailers and Processors/Millers in all States and Union Territories, until further orders. The step has been taken to manage the overall food inflation and to prevent unscrupulous speculation.

As per the government order, the respective legal entities i.e. Traders/Wholesalers, Retailers, Big Chain Retailers, Processors/Millers have to declare stock position of Paddy and Rice in categories such as Broken Rice, Non-Basmati White Rice, Parboiled Rice, Basmati Rice, Paddy.

The entities are expected to update it every Friday on the portal (https://evegoils.nic.in/rice/login.html) of Department of Food and Public Distribution. The stock position of Rice shall be declared by these entities within 7 days of issue of the order.

The ministry further said the domestic prices of rice are increasing despite a good crop this Kharif, ample stocks with FCI and in the pipeline and various regulations in place on Rice exports.

The retail prices have increased by 14.51% over the past year. In an effort to curb the prices of rice, various steps have already been taken by the Government. It said a sufficient stock of good quality Rice is available with FCI which is being offered to traders/wholesalers under OMSS at a reserve price of Rs 29/Kg.

Riding on the measures adopted by the government, the sale of rice has gradually increased. Till 31.01.2024, 1.66 LMT rice has been sold in the open market which is the highest sale in any year under OMSS (D) for rice.

Highlighting further on the measures adopted, the ministry said the export policy of Broken Rice has been amended from “Free” to “Prohibited” w.e.f. 9th Sep, 2022. In respect of Non-Basmati Rice, which constitutes about 25% of total rice exports, an export duty of 20% has been imposed w.e.f. 8th September, 2022 to lower the prices of rice.

It further said the Department of Food and Public Distribution is also maintaining a close watch over the stock position of Wheat to control prices and ensure easy availability in the country.

The All-India average Domestic Wholesale & Retail price of Wheat is showing decreasing trend over a month and year. Atta (Wheat) prices too, are showing decreasing trend over a week, month and year in the All India average Domestic Wholesale and Retail sections.