Centre slashes FCI rice price by Rs 550 per quintal to Rs 2,250 for states

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Centre slashes FCI rice price by Rs 550 per quintal to Rs 2,250 for states - Business Standard

Quick Summary:

The Centre on Friday reduced the reserve price of FCI rice under the Open Market Sale Scheme (OMSS) by Rs 550 per quintal to Rs 2,250 for states and ethanol producers to boost sales and support food security measures.

According to a Food Ministry order, state governments and state-run corporations can purchase up to 12 lakh tonnes, while ethanol distilleries are allowed to buy up to 24 lakh tonnes at a reduced rate.

The Food Corporation of India (FCI), which manages rice stocks through weekly e-auctions, will implement the revised policy until June 30, 2025.