India Government Launches OMSS Policy, Selling Broken Rice at ₹2,100 per Quintal for July-September Quarter.
The Indian Government has announced a fixed reserve price of ₹2,100 per quintal for the sale of broken rice under the Open Market Sale Scheme-Domestic (OMSS-D) for the July-September quarter. This decisive step follows the Dynamic Reserve Price Committee meeting held on August 20, marking the first instance of the government setting a fixed price for this commodity. The reserve price is applicable to both raw and parboiled resultant broken rice and will be effective for auctions conducted until September 30, regardless of when the rice is actually lifted.
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This fixed reserve price aims to stabilize the market for broken rice; however, consumers might benefit from lower open market prices. Retail investors should remain alert to market fluctuations and adjust their expectations based on auction outcomes and changes in supply dynamics.
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Source: The Hindu
(Expert Note: This report was independently prepared by the Wealthova Economy team.)