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

Oxfam: Billionaires' wealth increased by ₹3608 crore every day since Covid started, but 'poor' paid more GST

India's richest one percent of people have more than 40 percent of the country's total wealth, wh

Israel-Hamas War: Israel will face genocide charges in the International Court today, the government said this

It has been more than three months since the ongoing war between Israel and Hamas. While so far m

Delhi Air Pollution: Apart from the mask, do this small measure to prevent pollution, dust particles will not be able to go inside

These days, the problem of air pollution is being seen in many cities in North India. The air in

The government is considering reducing the age of contesting elections: in favor of many parties including Congress, said- why the voter's age is 18 and the candidate's 25

Keeping in mind the 65% youth population of the country, the central government is considering re

Modi-Modi slogans in Owaisi's election rally: Muslim youths showed black flags to AIMIM chief, campaigning in Surat

AIMIM Chief Asaduddin Owaisi is on a tour of the state due to the Gujarat assembly elections. On

China, and India issued SOP to attack not only on the border but also on the Internet

Indian and Chinese soldiers clashed on the Line of Actual Control in the Tawang sector of Arunach

'Hardik Pandya for 20-25 balls..', the veterans got angry after Team India's defeat; Gambhir was also not spared.

England cricket team defeated India by 26 runs in the third T20 International match. In this matc

Happy Children's Day 2023: Why is Children's Day celebrated, know its history and importance from here

Children's Day 2023: Every year in our country, 14 November is celebrated as Children's Day. On t

Shubman Gill's rip at number three flopped even after advice from Rahul Dravid and veteran cricketer

Shubman Gill Flop Show Ind vs WI 1st Test Cheteshwar Pujara considered the wall of the Indian Tes

India Vs Maldives Row: Objectionable remarks of Maldivian ministers on PM Indian trade organization enraged, said- invest in Lakshadweep

The Indian Chamber of Commerce (ICC) has taken a major step amid the controversy over objectionab