Prices of major agri commodities to stay stable: Govt
agricultural commodities – wheat, rice, edible oil, sugar, pulses and vegetables will not see any sharp rise during the upcoming festive season, said Sanjeev Chopra, food secretary on Wednesday, adding that the government will restore the distribution of 35 lakh tonnes of wheat for PMGKAY which it had replaced with rice during the last two years due to lower.
He also added that the proposal for easing restrictions on exports of white rice and parboiled rice is under consideration and the decision will come at an appropriate time.
“We are not anticipating any kind of price rise in any commodity during the festive season,” said Chopra, adding that the restoration of wheat for PMGKAY will add to the wheat availability, keeping a check on prices of the staple.
He also said that the government has asked edible oil companies to not pass on the burden of increased import duty till the current stock lasts as it was shipped on lower duty. The ministry expects the stocks imported at lower duties to last 45-50 days.
Last week, the government implemented an increase in the basic customs duty on various edible oils to support domestic oilseed prices. Effective September 14, 2024, the basic customs duty on crude soyabean oil, crude palm oil and crude sunflower oil has been raised to 20% from nil, making the effective duty on crude oils to 27.5%.
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