Centre mandates rice and paddy stock declaration amid price rise
Context: With rice prices rising due to a deficient, uneven monsoon, the Centre directed traders, wholesalers, retailers, processors and millers to declare rice and paddy stocks. It also allowed five southern States to impose stock limits.
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Centre mandates rice and paddy stock declaration amid price rise
Context
Under a 6 November order, stocks must be declared in six categories on the Food Stock Portal every Friday.
Key Facts
Categories: Basmati, non-Basmati premium, non-Basmati, parboiled, broken rice and paddy.
Violations face action under Sections 6 and 7 of the Essential Commodities Act, 1955.
Portal: foodstock.dfpd.gov.in.
Stock limits are meant to prevent hoarding.
Significance for UPSC
Illustrates tools for food-price management and food security. Relevant to GS3 agriculture and inflation.
Related Topics
Essential Commodities Act, 1955
Public Distribution System
MSP and procurement
Food inflation
Quick Quiz
Test your understanding
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Q1.Stock limits on foodgrains are imposed under which Act?