Alarm Bells Ring As Prices For Rice, Atta, And Other Essential Food Items Reach Sky-High Levels- Know Details
The prices for rice, wheat, and other daily-use essential food items have hovered near record highs in recent months. In response to public outcry, the Indian government on Wednesday approved the sale of 30 million tonnes of wheat from its stockpile in the open market in order to try and cool down prices of these commodities that have increased rapidly over the past few years.
The Department of Consumer Affairs website states that the average price of rice on 25 January 2023 was Rs 38.25 per kg as against to Rs 35.74 per kg a year back; the average price of atta on 25 January 2023 was Rs 33.43 per kg as against to Rs 28.24 per kg back; and the average price of tur/arhar dal on 25 January 2023 was Rs 111.95 per kg as opposed to Rs 102.7 per kg yesterday.
According to Food Corporation of India (FCI), the state’s for procurement and distribution of foodgrains, had around 171.70 lakh tonnes of wheat as on January 1 in the buffer stock.
Under the Open Market Sale Scheme (OMSS) policy, the government allows FCI to occasionally sell food grains, particularly wheat and rice, at predetermined prices on the open market to bulk consumers and private traders. This action is being taken to increase supply during the low season and lower open market prices overall.
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Flour millers have been requesting that the government sell off the FCI’s wheat stocks.
Last week, Sanjeev Chopra, Secretary of the Ministry of Consumer Affairs’ Department of Food and Public Distribution, stated, “We are finding that there is an uptick in the prices of wheat and atta.” We know about the problem. The government is looking into a number of options and will soon come up with our response.
Due to heat waves in a few growing states, India’s wheat production decreased to 106.84 million tonnes in the crop year 2021–22 (July–June) from 109.59 million tonnes the previous year. From almost 43 million tonnes last year, the procurement dropped drastically to 19 million tonnes this year. The current rabi (winter-sown) season has a somewhat larger area under coverage for wheat production. Beginning in April 2023, new wheat crop purchases would be made.
According to Sources the government will consider lifting the ban on wheat exports after harvesting of new crop.
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