– Similarly, wholesale rates of premium basmati rice have declined sharply by about 30 per cent to Rs 44-45 per kg at present from Rs 62-65 per kg last season, as per traders.
– Whereas industry body in its study said after pulses, onion and mustard oil, rice prices may trouble consumers if timely adequate safeguards are not taken.
As per IST report this is unlikely to be achieved due to severe deficit rains in Punjab, Haryana, Uttar Pradesh, Bihar Maharashtra and Karnataka and the best that could be achieved is 89 million tonnes,” it said adding that overall rice output may be around 103 million tonnes during 2015-16.
That apart, the study said rice stocks have declined in last three years from 24.59 million tonnes in 2012 to 13.89 million tonnes (plus unlimited paddy 3.61 tonnes) in stocks at present.
“Increasing export outgo on account of PDS (Public Distribution System) and other welfare schemes will continue to weigh on availability in the open market.