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Karimnagar: Rampant fraud in rice sales
The price of a quintal of new rice increased from Rs 3,200 in January last year to Rs 6,500 now due to artificial shortage created by traders
Karimnagar: The prices of fine rice have been increasing drastically across the joint Karimnagar district. Even though the cultivated area has increased, the price of rice has not decreased.
In the name of various brands, traders are selling rice at exorbitantly inflated prices. So much so that the common and middle-class are struggling to buy rice. The concerned authorities who are supposed to control the prices are acting like they are not concerned with the issue. Consequently, there are allegations that due to the lack of supervision and inspections traders are selling at higher prices.
The price of a quintal of new rice increased from Rs 3,200 in January 2023 to Rs 3,400 in October 2023. Last year, the price of fine rice per quintal during monsoon was Rs 2,600. Now, a quintal of rice is being sold at about Rs 6000.
The combined district has a population of 36,19,599 that requires an average of about 28 lakh metric tonnes of rice per month. A total of 70 % families use fine quality rice. That means about 16 lakh metric tonnes of milled rice per month is required.
It seems as if the traders are opting for “magic tricks” in selling rice. In order to attract customers, they are selling it in colourful bags claiming it to be 25 kg, when in fact it contains less quantity of rice. In Jyoti Nagar area of Karimnagar, for example, a corporate shopping mall has been set up. In some areas, lucky draws are also conducted by giving coupons for various festivals in the name of the scheme. Moreover, various names of different brands are printed on the bags. It seems that while there are thousands of rice depots in the joint district, most of them do not have the original permits.
There are no rice brands with a hologram. There is also no registration of the brand name. According to the rules, the price, packing date, company details and address should be printed on the rice bags, but sales continue without any details. After the central government lifted the five percent tax on rice, rice is being sold for Rs 5000 per quintal to Rs 6,000. At one time the amount has increased from Rs 1,500 to Rs 1,800.
On the other hand, traders say that prices are likely to rise further due to low stocks. In addition, it is reported that some traders have created an artificial shortage of fine rice and stored it in secret warehouses.
When it is supposed to reduce the price by Rs 500 per quintal every year the prices are increasing.
Notably, 60 to 65 kg is obtained if quintal paddy is milled and converted into rice. According to this calculation, a quintal of rice should be less than Rs 4000. But in the market, it starts from Rs 4500 and is sold up to Rs.6,000 in the branded name.
