New Delhi, Feb 3 (KNN) In response to market speculations, Union Food Secretary Sanjeev Chopra stated that the government has no intention to lift restrictions on rice exports in the near future. These constraints will persist until prices reach a reasonable threshold.

The government, in a recent announcement, unveiled its plan to introduce 'Bharat Rice' in the retail market at Rs 29 per kg starting next week.

This move aims to alleviate the burden on the common man amidst soaring prices, which have escalated by approximately 15 per cent over the past year.

Additionally, traders have been directed to disclose their rice/paddy stock as part of the broader efforts to rein in prices.

Chopra expressed confidence during a press conference, asserting that these measures, coupled with existing export restrictions, will contribute to price stabilisation.

He emphasised that the government's immediate priority is to mitigate the surge in rice prices, which have outpaced those of other essential food items.

Rice prices have surged by 14.5 per cent in the retail sector and 15.5 per cent in wholesale markets over the past year, Chopra noted.

To further regulate prices, the Centre has decided to distribute subsidised 'Bharat Rice' at Rs 29 per kg through two cooperatives, namely the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED) and National Cooperative Consumers' Federation of India Ltd (NCCF), along with the retail chain Kendriya Bhandar. E-commerce platforms will also participate in the distribution of Bharat Rice.

Chopra announced that Bharat Rice will be available in 5kg and 10kg packs starting next week. In the initial phase, the government has allocated 5 lakh tonnes of rice for retail sale.

Moreover, the government is already retailing Bharat Atta at Rs 27.50 per kg and Bharat Dal (chana) at Rs 60 per kg.

Chopra further stated, "We are now issuing orders for all entities stocking rice to disclose their stocks on the food department's portal. Retailers, large retail chains, wholesalers, and processors will be mandated to disclose their stocks, categorised into broken rice, non-basmati rice, parboiled rice, and basmati rice."

(KNN Bureau)