Centre will ensure food prices stay stable throughout festive season
What's the story
On October 19, Food Secretary Sanjeev Chopra, speaking at a press conference in New Delhi, announced that food prices are expected to remain stable and are not going to face any unseen hikes during the upcoming festive season. "Government has been using all tools at its command (to control food prices) - be it open sale of commodities, stock limits and curbs. We do not anticipate any rise during the coming festivities," he added.
Details
Decade of stable sugar prices
Chopra pointed out that India has enjoyed a decade of stable retail sugar prices, with only 2% retail inflation. He proudly stated that Indian sugar is now the cheapest in the world. Moreover, Chopra mentioned that all edible oils have seen a price reduction of over 15%, except for groundnut oil. He credited these positive outcomes to the government's timely actions.
What Next?
Export duty impact on parboiled rice
The Food Secretary also touched on the impact of a 20% export duty on parboiled rice. This measure has resulted in a 65% decrease in exports by quantity. However, Chopra said that exports of nearly 12 lakh tonnes of rice are still allowed for friendly countries.