Image Source : FREEPIK REPRESENTATIVE IMAGE
In a significant move, the government has slashed the price of rice procured by the Food Corporation of India (FCI) by Rs 550 per quintal. The new price, set at Rs 2,250 per quintal, will benefit state governments and ethanol manufacturers under the Open Market Sale Scheme (OMSS), according to a statement from the Ministry of Food and Public Distribution.
The revised pricing aims to support ethanol production and ensure the availability of rice for various state welfare programs. This initiative is part of the government’s strategy to stabilize rice markets and promote biofuel initiatives.
The Food Ministry noted that this decision will help maintain adequate stock levels and ease supply chain concerns. It is also expected to encourage ethanol production, in line with the country’s Ethanol Blending Program (EBP) to achieve energy security and reduce dependency on fossil fuels.
Further details on implementation and distribution mechanisms are awaited.
