Explore Business Standard
The Indian rice industry has urged the government to provide incentives and policy support in the upcoming Union Budget to address surplus stock, falling prices, and sluggish exports. The industry also demanded development of modern and better rural infrastructure in the budget, particularly irrigation and cold storage facilities. Dev Garg, Vice President of the Indian Rice Exporters Federation (IREF), highlighted a bumper surplus of 500 lakh tonnes which has led to a price decline of 10-15 per cent in both basmati and white rice. Despite the government's recent move to lift restrictions on non-basmati rice exports, shipments have remained weak. From April to now, rice exports have totalled Rs 76,000 crore, significantly lower than last year's Rs 1.14 lakh crore during the same period, he said. "The current quarter is difficult for traders, and exports are unlikely to improve in the next three months. With bumper crop coming in and no space to store, the situation demands governmen
Odisha Chief Minister Mohan Charan Majhi asked the Food Supplies and Consumer Welfare Department to provide three months of rice in advance to the beneficiaries of the Public Distribution System (PDS). Majhi issued this direction after he reviewed rice distribution under the Public Distribution System, the chief minister's office (CMO) said in a statement on Tuesday. The chief minister's direction is significant as it came after allegation of delayed rice distribution among people at Mandipanka village in Daringbadi block of Kandhamal district. Two women died and six others fell ill in the village after consuming mango kernel gruel allegedly due to scarcity of foodgrains. As per the chief minister's instructions, each beneficiary of the National Food Security Act and State Food Security Scheme will get 15 kg of rice for three months (October to December). Although the rice distribution process started from October 1, about 40 lakh families have not received rice yet. Therefore, th
The government has no proposal to resume sale of subsidised rice to grain-based distilleries for the production of ethanol, Food Secretary Sanjeev Chopra said. "Since July last year, rice has not been diverted for ethanol production. There is no proposal as of now to revisit that policy," Chopra told reporters on Thursday. He was responding to questions on whether the government plans to resume the sale of subsidised rice for ethanol in the near future amid reports of likely fall in sugar production in the 2024-25 season (October-September). The rice sale for ethanol makers was discontinued for various reasons, including apprehensions about domestic output and high retail prices, and economic unviability, he said. On the impact on investments on grain-based distilleries, Chopra said, "This is not a policy which is cast in stone. This policy will be renewed... Maize is being encouraged for ethanol production." As of now, there is a huge jump in ethanol made from maize. About 50 cro
The government hopes to sell 15 lakh tonnes each of FCI rice and wheat flour (atta) under the 'Bharat' brand in the next 4-5 months, Food Secretary Sanjeev Chopra said on Thursday. The government is retailing Bharat atta and rice through three agencies -- National Agricultural Cooperative Marketing Federation of India Ltd (Nafed), National Cooperative Consumers' Federation of India Ltd (NCCF) and Kendriya Bhandar. The government started retailing of 'Bharat Atta' since November last year, while sale of 'Bharat rice' commenced from February 6 in order to keep prices under check. State-run Food Corporation of India (FCI) is providing the grains to these agencies for retail purposes. Briefing the media, the Secretary said, "after the introduction of Bharata atta, prices are stable in the market... We are thinking as it has an impact on atta, similarly Bharat rice will ensure moderation in prices." Bharat Rice sale quantity is low at present but it will pick up in the coming days, he