Old rice stocks dominate inventories, prices cannot be increased abnormally: Telangana officials to millers

Telangana officials met with rice millers and traders to prevent market manipulation and maintain stable prices for the staple food item. They noted that current inventories are solely comprised of last season's stock, making it impossible to raise prices abnormally. Citizens have been purchasing grains at nearly double the usual cost.

Farmers are opting to sell their current harvest from the Kharif crop on open markets, receiving wages between ₹3,000 and ₹3,500 per quintal. Private traders are immediately purchasing fresh crops from farms. Some individuals are even pre-ordering rice from farmers at premium rates of up to ₹5,000 per quintal. To ensure a steady supply and control consumer prices, Director G.V.

Shyam Prasad Lal convened the meeting in Hyderabad on Wednesday, following a previous discussion on Tuesday. The millers and traders were instructed to maintain a smooth supply chain if the government were to establish special distribution centers to further stabilize rates. The government warned that artificially creating scarcity or illegal hoarding will result in legal repercussions.