Sourcing FCI rice under OMSS to impact retail prices
The Department of Food and Public Distribution’s suggestion to rice processors and traders to source Food Corporation of India (FCI) rice under the Open Market Sale Scheme (OMSS) for sale to consumers is expected to have an impact on the retail price of rice.
“The annual inflation rate of rice is hovering around 12% for past two years and is cumulating over the years which is a cause of concern,” the department said in a press release.
The benefit of lower prices should be passed on expeditiously to the end consumers, the department said. At a recent meeting, leading rice industry associations were asked to take up the issue with their members.
“Besides, it was suggested that where there exists a wide gap between the MRP and actual retail price, the same needs to be brought down to a realistic level in order to safeguard the interest of the consumers,” the department said.
The FCI is offering quality rice under the OMSS at a reserve price of ₹29 a kg.
“There is a difference between the price at which rice mills are selling and the retail price. The government wants the retail price to be reduced,” a rice miller said.
Source Link :- https://www.thehindu.com/business/sourcing-fci-rice-under-omss-to-impact-retail-prices/article67654810.ece
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