Price of rice to reach boiling point: ASSOCHAM

Hyderabad, Nov 16: The Associated Chambers of Commerce and Industry of India (ASSOCHAM) today predicted in its report that the price of various rice varieties are likely to reach boiling point after pulses in the next few months due to an expected fall in kharif output and depleting stocks. In its report, the industry body said if adequate and timely measures are not taken prices of various varieties of rice are likely to trouble consumers. The report said, "...prices of rice may shoot up and reach a boiling point in the coming months as the stock of the key staple cereal is depleting fast owing to deficient rains and fall in output." The government estimates, meanwhile, say that kharif rice production is likely to be placed at 90.61 million tonnes in 2015-16 crop year. However, the ASSOCHAM reports claimed that "...this is unlikely to be achieved due to severe deficit rains in Punjab, Haryana, Uttar Pradesh, Bihar, Maharashtra and Karnataka and the best that could be achieved is 89 million tonnes." The report further said overall rice output may be around 103 million tonnes during 2015-16 season. Saying that rice stocks declined in the past three years, the study the stocks fell from 24.59 million tonnes in 2012 to 13.89 million tonnes at present.