Old rice stocks dominate inventories, prices cannot be increased abnormally: Telangana officials to millers
Telangana Civil Supplies officials met rice millers and traders to curb market manipulation and abnormal price hikes, noting that current inventories comprise previous-season stocks. Rice prices have nearly doubled, while farmers are selling fresh Kharif paddy for ₹3,000–₹3,500 per quintal, with some advance bookings reaching ₹5,000.
Telangana Civil Supplies Department officials held another round of meeting with rice millers and traders to prevent market manipulations which can lead to surge in prices of staple food items burdening people. Pointing out that current market inventories consist entirely of stock from the previous agricultural season, they said that the prices cannot be increased abnormally.
People across the State have been buying the food grains at nearly double the price. Farmers are preferring to sell the current harvest, from Kharif crop, in open markets where they are being paid between ₹3,000 to ₹3,500 per quintal (100 kg). Private traders are picking fresh harvest from farms. The farmers are hoping they will get a better price in the coming weeks. Besides, f ew individuals are pre-booking rice with farmers by paying up to ₹5,000 per quintal.
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Source : The Hindu
