Govt exploring options to dispose of surplus rice stock to rein in rising prices
The Government is addressing a surplus of 17-18 million tonnes of rice in 2024-25 from official reserves to lower retail prices. Discussions involve stakeholders to explore options like increasing public distribution, restarting weekly e-auctions through open market sale schemes, and directly selling to states with price controls. These measures aim to stabilize rice availability and affordability, crucial for food security amid economic challenges. Sources indicate efforts to manage surplus stocks efficiently to benefit consumers nationwide.
The Government has started discussions with stakeholders to dispose of surplus rice, estimated to be 17-18 million tonnes (mt) in 2024-25 from the official reserves so that the retail prices are brought down. The government’s options include extra allocation under the public distribution system, resumption of weekly e-auction under open market sale scheme and direct sales to States with a rider on maximum retail price, sources said.
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