Rice Price: Rice prices may increase due to reduced production, and inflation rates will also be affected

Posted on 19th Sep 2022 02:39 pm by rohit kumar

Rice prices may increase in the coming time due to less sowing of paddy in the Kharif crop. This time the production of rice is expected to decrease by 60-70 lakh tonnes. This will also have an impact on inflation rates.

 

Retail inflation stood at 7 percent in August. However, the rate of wholesale inflation has remained at an 11-month low. Irregular and delayed southwest rains in June-September are expected to reduce the paddy crop. According to the consumer ministry, the wholesale price of rice has increased by 10.7 percent to Rs 3,357 a quintal in a year. The retail price has increased by 9.47 percent to Rs 38.15 per kg.

 

The Food Ministry estimates that due to this there may be a decrease in the production of rice. Some experts believe that India has enough buffer reserves, so there is no need to panic. Along with banning the export of rice, the government has also imposed an export duty of 20 percent to reduce the prices.

 

NITI Aayog said, there is no need to panic

 

NITI Aayog member Ramesh Chand said that there is no need to panic about the price of rice. The rise in prices is because the Minimum Support Price (MSP) has been increased. At the same time, fertilizers and fuel have also become expensive.

 

Also Read: Textile Industry: Ministry of Textiles approves 23 research projects worth Rs 60 crore, here are the details

Other news

Atmanirbhar Bharat: The country is becoming the father of technology, Ashwini Vaishnav said - India has set a journey of development in eight years

India is developing very fast in the field of technology. Today the situation is that India is be

‘My Hyderabadi brother, stay there only…’ Deputy CM Devendra Fadnavis attacked AIMIM chief Owaisi.

Maharashtra Deputy CM Devendra Fadnavis has once again targeted All India Majlis-e-Ittehadul Musl

Democracy weakened: Polarization is increasing twice as fast in the world, and half of the people living in democratic countries need powerful leaders

Attempts to suppress the protest against the hijab in Iran, suppression of the people who took to

Plane Crash in Baramati: Flight attendant Pinky Mali had gotten married four years ago and had come to her village two and a half months ago.

Maharashtra Deputy Chief Minister Ajit Pawar has died in a plane crash in Baramati, Pune district

On the orders of CM Yogi, one lakh square meters land was freed from encroachment in Lucknow, and 1320 illegal constructions were demolished in Akbarnagar in 8 days

In perhaps the biggest action to date, one lakh square meters area of ​​the flow area of ​â

Former Canadian PM Justin Trudeau's relationship with Katy Perry becomes official, the couple was seen holding each other's hands.

A piece of news from Hollywood is currently going viral. This news is linked to pop sensation Kat

Demand for FIR in the case of cash found at judge's house, Supreme Court said - there will be no immediate hearing.

The Supreme Court on Wednesday rejected the request for an immediate hearing on the demand to dir

Russia wants to end the Ukraine war: Putin said – the enemy has to be understood, and any war has to end

Before the completion of one year of war with Ukraine, Russian President Vladimir Putin announced

Players preparing for the Olympics-2036 will get 50000 rupees every month, Amit Shah announced

Union Home Minister Amit Shah said on Friday that the government is giving Rs 50,000 per month to

Malegaon Case: Mechanic was being lured to take Sadhvi Pragya's name, ATS officers used to threaten him

After the acquittal of the accused in the Malegaon bomb blasts, the then-investigating officers h