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The prices of essential commodities also took a hit as Cyclone Michoung crossed the coast. Until yesterday, the traders who said that the prices were increasing due to the rainy conditions, increased the prices of rice even before the impact of the storm came. The wholesalers received information from the millers that the prices were increasing. Rice prices have been hitting rock bottom for the past few months due to complete lack of government regulation.
The prices of essential commodities have been rising steadily for the past few months. The yield of agricultural products has decreased due to the prevailing rainy conditions across the country. Cultivated area has also reduced significantly in Kharif this year. Even the harvested crops were damaged by the storm like a tiger cub. Now due to the impact of the storm, the prices of rice will increase.
In AP, quality fine rice is currently up to Rs.56 per kg. They sell rice from millers to wholesalers at a profit of Rs.3 to Rs.5 per kg. The price of a 26 kg bag of rice, which was Rs.1250-1300 three months ago, is now close to Rs.1,600. Traders say that the price of a kilo of rice will reach Rs.60. Wholesalers say that the minimum price will be Rs.1500. It is said that there is no possibility to find a 26 kg bag for less than Rs. 1400 even for the prices of new rice.
At present there is enough stock available with the millers in the market but the traders are ready to create artificial shortage. They are trying to make money by increasing rice prices. The price of rice collected by the government and the price of rice provided by civil supplies, together with all the expenses, by the time it reaches the beneficiary through the ration cards, the cost is Rs.39. This includes the cost of grain collection, gunny bags, transportation, ration shop commission and other expenses. The Center also has a share in the rice supplied through the ration shops.
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