The Ministry of Consumer Affairs, Food and Public Distribution (MoCAF&PD) on February 02, 2024, issued a notification regarding the stock position of Rice/Paddy.
The following has been stated: -
•In order to manage the overall food inflation and to prevent unscrupulous speculation, the Government of India has decided that the stock position of Rice/Paddy must be declared by Traders/Wholesalers, Retailers, Big Chain Retailers, and Processors/Millers in all States and Union Territories, until further orders. The respective legal entities i.e. Traders/Wholesalers, Retailers, Big Chain Retailers, Processors/Millers have to declare the stock position of Paddy and Rice in categories such as (i) Broken Rice, (ii) Non-Basmati White Rice, (iii) Parboiled Rice, (iv) Basmati Rice, (v) Paddy.
•The entities are expected to update it every Friday on the portal of the Department of Food and Public Distribution. The stock position of Rice shall be declared by these entities within 7 days of the issue of the order.
• A 20% export duty on parboiled rice has been imposed which will be applicable till 31st March 2024.
•The Government of India is also closely monitoring the domestic retail prices of edible oils to ensure that the full benefit of the decrease in international prices is passed on to the end consumers. The government has taken the following measures in order to control and ease the prices of edible oils in the domestic market: -
The Basic Duty on Crude Palm Oil, Crude Soyabean Oil, and Crude Sunflower Oil was reduced from 2.5% to Nil. Further, the Agri-cess of these Oils was brought down from 20% to 5%. This duty structure has been extended up to March 31, 2025.
The Basic Duty on Refined Soybean oil, Refined Sunflower Oil, and Refined Palm Oils have been reduced to 12.5%. This duty has been extended up to March 31, 2025.
The detailed notification is given in the document attached below.
[Release ID: 2001790]
