Rice Mill

Rice millers in Punjab have been on a warpath for the last few weeks, refusing to lift paddy from mandis in Punjab and demanding an easing of procurement norms

As many as 33 rice mills in Maharashtra's Gondia district have been blacklisted for next three years as the rice supplied by them has been found to be inferior quality and not fit for human consumption, officials said. Gondia Collector Chinmay Gotmare issued an order to this effect on August 4. According to an official of the Food Corporation of India, during an inspection by an FCI team, the rice from these mills supplied to Beed, Nandurbar, Latur and other districts last year under the public distribution system (PDS) was found to be of inferior quality. The team subsequently submitted its report to the Gondia collector. Gomtare said these mills have been asked to provide good quality rice in the next six weeks, or else legal action would be initiated against them.

India, which commands 40% share in the global rice trade, exported 21.23 mt of rice in 2021-22, against 17.78 mt in the previous year

Should you hold rice mill stocks amid export curbs?

Govt's imposition of export duties on rice may harm the profitability of rice-mill companies in the near-term. But, healthy rice harvest is expected to override negative sentiments in the long-haul

Shares of LT Foods, Kohinoor Foods, KRBL, Chaman Lal Setia Exports, for instance, have declined in the range of 2 per cent to 9 per cent, as against 0.4 per cent gain in the Nifty50 index.

Rao said if necessary he would talk to the Centre to arrange few special trains to bring back the Bihari migrant workers.

Lack of demand for parboiled rice, falling prices and shrinking exports have been key reasons for the deteriorating financial condition