AreaIndia

Commodity GroupRice

CommodityAll

Date26/01/2023

Policy CategoryStocks

Policy InstrumentStock release, biofuels

DescriptionDecided that, under the Open Market Sales Scheme (OMSS) to be implemented during calendar 2023, the reserve price for rice would remain set at INR 20 000 (USD 243) per tonne for private entities sourcing supplies for ethanol production. For all other private entities, the reserve price under e-auction would be INR 24 000 (USD 292) per tonne. A surcharge of INR 730 (USD 9) per tonne would be applicable on top of the reserve price if supplies sourced consisted of fortified rice. Moreover, states would be permitted to source supplies (including fortified rice) from the Food Corporation of India for their schemes without participating in e-auctions, at a price of INR 34 000 (USD 413) per tonne.

NotesExchange rate as of 15 May 2023.