The government hopes to sell 15 lakh tonnes each of FCI rice and wheat flour (atta) under the 'Bharat' brand in the next 4-5 months, Food Secretary Sanjeev Chopra said on Thursday.

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

The government is retailing Bharat atta and rice through three agencies -- National Agricultural Cooperative Marketing Federation of India Ltd (Nafed), National Cooperative Consumers' Federation of India Ltd (NCCF) and Kendriya Bhandar.

The government started retailing 'Bharat Atta' since November last year, while sale of 'Bharat rice' commenced from February 6 in order to keep prices under check. State-run Food Corporation of India (FCI) is providing the grains to these agencies for retail purposes.

Briefing the media, the Secretary said, "after the introduction of Bharata atta, prices are stable in the market... We are thinking as it has an impact on atta, similarly Bharat rice will ensure moderation in prices." Bharat Rice sale quantity is low at present but it will pick up in the coming days, he said.

"We are hoping to sell 15 lakh tonnes of rice and 15 lakh tonnes of wheat flour in the next 4-5 months. This is the initial phase, we can supply more if there is demand," Chopra said.

Till date, about 3.5 lakh tonnes of wheat flour and 20,000 tonnes of rice under the Bharat brand have been sold, he added.

The Secretary said rice prices which are ruling higher by 15 per cent on a year-on year basis are also expected to cool down with the retailing of 'Bharat rice' and arrival of rabi crop from March.

At present, wheat, wheat flour, sugar and edible prices are stable except for rice, he added.

Catch the latest stock market updates here. For all other news related to business, politics, tech, sports, and auto, visit Zeebiz.com.