The government has prohibited the export of non-basmati white rice.
The Minister was speaking at an event to launch ITC’s postal stamp on millets in collaboration with India Post.
Union Minister of State for Agriculture Kailash Choudhary said on Tuesday that the government is closely monitoring the prices of essential food items. The Minister said that the Government is also supervising the demand-supply situation of food products. Choudhary also asserted that the Indian Government is committed to balancing the interest of both consumers and farmers. He added that the government has formed a panel to regularly monitor the prices and availability situation. The Minister was speaking at an event to launch ITC’s postal stamp on millets in collaboration with India Post. He revealed these facts while replying to a question about food inflation and the recent export ban on non-basmati white rice. He also said that there is no problem on the supply front of food items in the country.
The Government of India has amended the export policy of non-basmati white rice from free with an export duty of 20% to prohibited. The Government has cited the reason for ensuring adequate availability of the above-mentioned variety in the Indian market. They also wanted to reduce the rise in prices in the domestic market. The domestic prices of rice are on an increasing trend and the retail prices have increased by 11.5% over a year and 3% over the past month. An export duty of 20% on non-basmati white rice was imposed on September 8, 2022, to lower the price and ensure its availability in the domestic market.
The inflation in the food basket was at 4.49% in June according to the data released by the National Statistical Office. It is higher than 2.96% in May. The food basket accounts for nearly half of the CPI (Consumer Price Index). The data revealed that the annual rate of price rise was 19.19% in the case of spices, and 12.71% in cereals and products. The rate of price rise was 10.53% in pulses and products and 7% in eggs. Fruits were slightly costlier as well in June year-on-year. There was a decline in inflation in oil and fats (-18.12%) and vegetables (-0.93%).
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