Rice prices up 14% YoY amid El Niño, lower output fears

Retail rice prices averaged ₹49/kg on November 10, up 14% year-on-year, as inadequate rainfall, reduced fertiliser use, and intensifying El Niño threaten kharif paddy yields. S&P Global estimates India's 2026-27 paddy output will fall 8 million tonnes to 146 million tonnes. The government doubled Open Market Sale Scheme rice supply to 5 million tonnes and imposed stock disclosure rules.