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Staple spikes: Has an abnormal Kharif 2022 caused rice prices to rise -Raju Sajwan

-Down to Earth

The United States Department of Agriculture has said rice production in India may decline by 0.9% in 2022-23 due to uneven rains

Rice prices are spiking across India, even in areas where it is the staple. This development comes even as the country has experienced an abnormal Kharif season, with uneven distribution of rainfall.

The cereal that forms the staple diet of over half of India’s population has become prohibitively expensive even in the country’s rice belt. For example, rice is being sold at Rs 58 per kilogram in Chennai and Rs 41 per kg in Kolkata.

The wholesale price of rice has increased by four per cent during the last one month. The price of rice has increased by 7.3 per cent, compared to last year.

The retail price of rice was Rs 37.94 per kg as on August 17, 2022, according to the Price Monitoring Cell of the Department of Consumer Affairs. The wholesale price of rice was Rs 3,295.24 per quintal.

The retail price was Rs 36.6 per kg and the wholesale price was Rs 3,167.18 per kg July 17, 2022. This means the retail price has increased by 3.09 per cent and the wholesale price by 4.04 per cent in a month.

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