New Delhi, Feb 23 (KNN) In a bid to address the escalating prices of cereals, the government revealed its plan to introduce 3 million tonnes (MT) of rice and atta into the retail market under the 'Bharat' brand initiatives over the next 4-5 months.

Alongside this measure, the government has opted to indefinitely extend the 20 per cent export duty imposed on par-boiled rice from the previous year.

Sanjeev Chopra, Food Secretary, highlighted the effectiveness of the Bharat atta initiative, which offers flour at a subsidised rate of Rs 27.50/kg. 

Despite this success, Chopra acknowledged the persistent high prices of rice, prompting the decision to release approximately 1.5 MT each of atta and rice through retail outlets to mitigate price spikes, Chopra stated in a briefing.

The recently launched Bharat rice program has been instrumental in providing subsidised rice at Rs 29/kg through various retail outlets, including those managed by farmers' cooperative organisations like Nafed and NCCF.

With retail rice prices witnessing a 13 per cent increase compared to the previous year, the government has taken decisive actions, including the prohibition of white rice exports and the imposition of a 20 per cent export duty on par-boiled rice, aimed at bolstering domestic supply levels.

Furthermore, the government has embarked on an aggressive campaign to sell wheat from the Food Corporation of India (FCI) stock through weekly e-auctions since June. 

Notably, as of the latest update, the corporation has successfully sold a record 8.94 MT to bulk buyers. Additionally, the government is offering chana dal at subsidised rates of Rs 60/kg under the Bharat Dal initiative.

(KNN Bureau)