Food prices to remain stable during festive season: Centre

Government on Thursday assured that prices of all major food items and commodities will remain stable during the upcoming festival season. Food Secretary Sanjeev Chopra told media persons that government is using all tools to control prices.

He added that various steps have been taken by the government in the past few months to ensure that prices of essential commodities like wheat, rice, edible oils and sugar remain stable.

Chopra said sugar prices are among the cheapest in India in the world at Rs 44 per kg, however curbs on sugar exports are to remain in place beyond the deadline of October 31, to ensure its domestic availability and to keep its prices under check.

He added that due to stable sugar prices, around 95 per cent sugar cane dues to farmers have been paid for 2022-23.

Even edible oil prices have been down since the past in year, the food secretary said, except in case of groundnut oil.

In case of rice, Chopra said that 20 per cent export duty on parboiled rice has been extended to march 31, 2024, to ensure price stability and availability in domestic markets.

Custom authorities have been directed to ensure stricter essential checks so that no other varieties can be exported in the guise of parboiled rice, he added.

Only some friendly countries have been allowed export of rice, the secretary informed.

Around 97,000 tonnes of rice has been sold under OMSS, he informed.

Chopra said that though rice inflation is now at 11 per cent since the past few months, however with harvest season setting in, it may come down drastically.

Wheat prices too have been under control, the food secretary said, adding that retail inflation in it has been around 3.6 per cent in the last one year.
Even in wholesale, the inflation in wheat has been around 3.86 per cent.

He added that there is no possibility of wheat prices rising as there is adequate stock available.

Chopra informed that 87 lakh tonnes will be available in wheat stocks till April 2024. Also there is 76 lakh tonnes available in buffer, which can be used.

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