Rice Prices News

The order states that the Wheat Stock Limit is expiring on March 31 for all categories of entities in states and UTs.

Rice is vital to the diets of billions of people in Asia and Africa, and the surge in prices could add to inflationary pressures and boost import bills for buyers, the report said.

Monsoon rains have been heavy in the rice producing states of North India... while there are some parts of the country where the rainfall has been less this time. This unexpected weather change has affected the rice crop. Due to heavy rains in North India, newly planted crops in Punjab and Haryana were damaged and many farmers had to replant...i.e. direct impact on rice crop..States like West Bengal, Maharashtra and Karnataka have reduced paddy sowing. While West Bengal is a major paddy producing state...

 After pulses, rice prices may also shoot up and reach a "boiling point" in the coming months due to depleting stocks and likely fall in its kharif output, according to industry body Assocham.

India`s output could be hit this year as rains, crucial for the summer-sown rice crop, were 40 percent below average in the first six weeks of the June-September monsoon season.

Rising prices of rice in the open market prompted households to reduce consumption and rely on ration shops to buy it at controlled rate, shows a government survey.