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NEW DELHI: The Centre on Friday made stock disclosures mandatory for rice and paddy for retailers, wholesalers, traders, big chain retailers, processors and millers. They will have to upload details of stocks every Friday on a government portal. Govt also announced that it would start selling rice at a subsidised price of Rs 29/kg under ‘Bharat’ brand next week.
Union food secretary Sanjeev Chopra said, “The first priority for govt as of now is to ensure that rice prices are brought down. Despite export restrictions on various varieties, there has been a 14.5% increase in retail and 15.5% in the wholesale prices in the last one year.” He also dismissed all speculations of govt lifting export curbs on the cereal.
The food ministry said that all entities will have to declare stock positions in categories such as broken rice, non-basmati white rice, parboiled rice, basmati rice and paddy. “The stock position of rice shall be declared by these entities within seven days,” it said.
Chopra said the mandatory disclosure would ensure that “entities that are holding stocks are able to release the stocks into the market, which should cool down prices.”
Union food secretary Sanjeev Chopra said, “The first priority for govt as of now is to ensure that rice prices are brought down. Despite export restrictions on various varieties, there has been a 14.5% increase in retail and 15.5% in the wholesale prices in the last one year.” He also dismissed all speculations of govt lifting export curbs on the cereal.
The food ministry said that all entities will have to declare stock positions in categories such as broken rice, non-basmati white rice, parboiled rice, basmati rice and paddy. “The stock position of rice shall be declared by these entities within seven days,” it said.
Chopra said the mandatory disclosure would ensure that “entities that are holding stocks are able to release the stocks into the market, which should cool down prices.”
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