Looking for options to clear surplus stock of rice

15-Jun-2024 12:57 PM

New Delhi. The government has surplus stock of rice and is considering various options to reduce it. Meanwhile, the exporter is repeatedly urging the government to allow the export of raw (white) rice and remove the 20 percent export duty on Sela rice,

but due to the high domestic market price, the government is reluctant to accept this request. It is understood that in the 2024-25 season,

the government will have a surplus stock of 170-180 lakh tonnes of rice, to use which the government has started discussions with various stakeholders. The first goal of the government is to bring down the retail market price of rice.

The options that the government is considering to clear this surplus stock of rice include allocating additional quantity under the Public Distribution System,

restarting the weekly e-auction under the Open Market Sales Scheme (OMSS) and starting its sale directly to the states, etc.

On June 14, the Food Ministry held a meeting with some exporters and rice millers to get their opinion on various options. The exporters put forward their views.

When the state government is buying paddy at the rate of Rs 3100 per quintal, then how can rice millers be expected to sell rice at the rate of Rs 3000/3500 per quintal.