Will rice be out of the budget, read the government’s estimate about the prices

The government had banned the export of broken rice and imposed a 20 per cent export duty on non-basmati rice. According to the government, the all-India domestic wholesale prices of rice and wheat declined by 0.08 per cent and 0.43 per cent respectively this week.

Will rice run out of budget?

This year due to less than expected paddy transplantation with abnormal monsoon rains rice production is expected to be lower than last year. Due to which there has been an apprehension that the prices of rice may increase in the coming time. Although the government has made it clear on Friday that even if the production of rice is less, the supply will be sufficient against the domestic demand and whatever steps the government has taken recently regarding the export of rice, the prices will remain under control.

sufficient stock of rice

The government on Friday said that the retail prices of rice in the domestic market will remain under control. The ban on export of broken rice and its adequate stock will help in this. The statement of the Food Ministry comes a day after its fact sheet, which said that rice prices in the domestic market are showing signs of increase. In a statement issued on Friday, the Food Ministry said that by banning the export of broken rice, the government has “successfully ensured domestic food security, availability of domestic fodder for poultry and livestock”. Along with this, the domestic prices of rice have also been kept under control. Earlier this month, the government banned the export of broken rice and imposed a 20 per cent export duty on non-basmati rice.

situation better than neighboring countries

The Food Ministry said that the domestic price of rice is in a comfortable position and the prices will remain well under control… Due to the surplus stock, the domestic price of rice will be controlled as compared to the international market and neighboring countries. The Minimum Support Price (MSP) of paddy has been increased by 5.15 per cent to Rs 2,040 per quintal in 2022-23 as against Rs 1,940 per quintal in 2021-22. The ministry also informed that the all-India domestic wholesale prices of rice and wheat declined by 0.08 per cent and 0.43 per cent respectively this week. The average retail price of rice on Friday stood at Rs 37.65 per kg, as per data from the Department of Consumer Affairs.