The Centre has allocated 10 lakh tonnes (lt) —5 lt wheat and rice each —to cooperative organizations such as National Agricultural Cooperative Federation of India Ltd (Nafed) and National Cooperative Consumers Federation of India (NCCF) for further retail sale directly to consumers under “Bharat” brand, which may help resume sales of these essential items at cheaper than market prices.
However, the government has stipulated that these cooperatives have to submit an undertaking that they have exhausted sales of the earlier allocated quantity before lifting fresh stocks of the cereals.
The sale of rice to NAFED and NCCF for further retail sale through their own stores, mobile vans and e-commerce platforms, as well as big chain retailers, is likely to commence in November after a gap of about three months, sources said.
The maximum retail price for rice has been fixed at ₹340/bag (of 10 kg) and that of atta (wheat flour) at ₹300/bag (of 10 kg).
The all India average retail price of rice was ₹43/kg on August 25, which is a tad higher from a week back and also a month earlier. But, current rate of rice is 0.3 per cent down from a year earlier, and 3.3 per cent up from two years back. The increase in paddy MSP is ₹2,389/quintal for upcoming season starting October 1, which 9 per cent higher from two years back.
