Non-Basmati Rice Prices Dip 10% Amidst Government Measures

In March, non-basmati rice prices have witnessed a significant decline of approximately 10%, a development attributed to the government’s initiatives aimed at facilitating the availability of affordable rice and curbing hoarding practices. Traders have noted this downward trend following the introduction of cheaper rice variants labeled under the ‘Bharat’ brand, coupled with regulatory measures requiring traders to declare their rice stocks on a weekly basis. These regulatory actions are intended to foster transparency within the rice market and prevent any potential attempts at hoarding, given the critical importance of rice as a staple food in the country.

Despite the decline in prices, traders remain wary of potential government interventions, particularly with the looming general election. They anticipate that these regulatory measures may persist until after the election results are announced, underscoring the prevailing uncertainty within the rice market.