Centre Doubles Rice Sale Target to 50 Lakh Tonnes, Makes Weekly Stock Disclosure Mandatory
The Central Government has tightened monitoring of rice and paddy stocks. Traders and millers have been directed to declare their stocks. Five southern states have been permitted to impose stock limits. To boost domestic supply, FCI will sell 5 million tonnes of rice through e-auction.
The Central Government has increased its supervision over the paddy and rice stock in the country so that food security can be ensured during the festive period. This is done to ensure smooth supply in the domestic market. The government has asked the dealers, processors, and millers to declare their stocks.
This would help in increasing transparency in the market. Moreover, the five southern states are allowed to fix stock limit on paddy and rice. This will improve the supply management in these five states. The central government has released additional quantity of rice to NAFED, NCCF, and Central Reserve. The Food Corporation of India (FCI) is going one step further. The FCI has decided to sell 5 million tonnes of rice to bulk consumers via e-auction. It is twice the quantity previously announced by the government. This sale will increase the availability of rice in the market.
The government has taken this step to ensure adequate availability of rice and paddy in the market. There have been concerns about market prices for some time. The announcement of stockpiles will help the government assess the actual situation and curb hoarding and black marketing.
