The centre is monitoring the availability of rice stock in the country and will take an 'informed' and 'measured' look at the availability; government sources told NDTV.
The sources said that food security is the government's top priority and as such the centre will ensure buffer stock norms of rice are adhered to so that there is sufficient availability of rice stock for the Public Distribution System.
-
Indian Markets Turning Corner After Two Tough Years, Says Sandeep Tandon -
NDTV Profit Ignite 2026: Experts See Opportunity In Equities, Stay Bullish For Long-Term -
Buy Right, Sit Tight Does Not Work for Individual Stocks, Says Dinshaw Irani -
'Worst Is Behind': Quant MF Sees Market Bottom, Flags 'Extreme Euphoria' In Midcaps -
India's Mutual Fund Industry Could Become A $1 Trillion Opportunity, Say Fund Managers -
'Foreign Investors Are Baraatis': Raamdeo Agrawal's Take On LTCG Tax -
Stay Invested Through Market Cycles: Raamdeo Agrawal at NDTV Profit Ignite -
Ramesh Damani Remains Bullish On India For Next 20-30 Years, Sees Bargains Amid Market Weakness -
CAS Came After A Long Consultation Process: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFIT IGNITE -
Aim To Cut FPI Onboarding Time From Mth To Five Days: SEBI Chairman Tuhin Kanta Pandey AT NDTV PROFI
That comes on the heels of a wheat export ban, according to an order dated May 13, drawing criticism from several quarters, including the Group of Seven, worried about protectionism when global inflation has surged to multi-decade highs as a result of the Ukraine war.
Also Read | Layoffs Are Rising In Tech, But These Skills Are Helping People Unlock Better Pay
But the sources said the government's top priority is to contain inflation. We have to ensure that sufficient stock is available in the market too.
The government sources added we have to ensure that sufficient stock is available in the market too, and the trends in the international market would also have to be factored in while assessing the situation on the rice front.
Currently, India's rice stock is comfortably placed at 332.68 lakh MT.
India exported rice to over 150 countries worldwide in 2021-22, with non-basmati rice exports the top foreign exchange earners among all agri-commodities in 2021-22, according to the data from the Directorate General of Commercial Intelligence and Statistics (DGCI&S), under the Ministry of Commerce.
The total production of rice during 2021-22 is estimated to be 129.66 million tonnes, which is a record, according to the 3rd Advance Estimates of the Ministry of Agriculture. That is higher by 13.23 million tonnes than the last five years' average production of 116.43 million tonnes.
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
