In an effort to tackle rice inflation, the Government is exploring the option of selling FCI (Food Corporation of India) rice under the ‘Bharat’ brand. However, the discounted rate has not been finalized, as mentioned by a Food Ministry official.
The Ministry’s efforts to check retail rice prices by enhancing domestic availability through the sale of FCI rice via e-auction under the Open Market Sale Scheme (OMSS) have received a lukewarm response.
“There is a proposal to retail ‘Bharat rice’ but the price has not yet been decided,” the official stated.
Under the Open Market Sale Scheme (OMSS), the Food Corporation of India (FCI) is selling quality rice at a reserve price of INR 29 per kg.
“Whether to sell Bharat rice at the same rate or reduced rate, the decision has to be taken by the Group of Ministers,” the official added.
The Government is already selling wheat flour (atta) and pulses under the Bharat brand through outlets operated by the National Agricultural Cooperative Marketing Federation of India (NAFED), National Cooperative Consumers’ Federation (NCCF), and Kendriya Bhandar.
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FCI has managed to sell only 3.04 lakh tonnes of rice under OMSS so far this year. Regarding wheat, the nodal agency has sold 82.89 lakh tonnes of wheat under OMSS, according to official data.
Rice inflation is at 13% year-on-year, and the Government is concerned about key food prices ahead of the 2024 general elections.
