Home / News / India /  FCI offers 2.2 million tonne of wheat for sale in open market

New Delhi: Food Corp. of India (FCI) sold 8.88 lakh tonne of wheat to bulk consumers on the first day of e-auction conducted in 22 states on Wednesday. It had offered 2.2 million tonne of the food grain out of the 2.5 million tonne central pool stock for sale under its open market sale scheme (OMSS) to boost domestic availability and rein in wheat prices.

“Food Corporation of India offered 22.0 LMT out of 25 LMT Wheat stock earmarked for e auction wheat from the central pool stock to the market through various routes under the Open Market Sale Scheme (Domestic) in the first e auction on 1st February 2023," the Ministry of Consumer Affairs, Food & Public Distribution said in a statement.

More than 1,100 bidders came forward for participation in the first e-auction, the ministry said, adding that in Rajasthan, bidding would be conducted on Thursday, it said.

E-auctions will be conducted every Wednesday till 15 March.

The Centre had last month said it would offload 3.0 million tonne of the essential commodity from its buffer stock under OMSS to check the rise in wheat prices.

Under OMSS, the government allows FCI to sell foodgrains, especially wheat and rice, at predetermined prices in the open market from time to time to bulk consumers and private traders.

The government has also reserved 300,000 tonne of wheat for cooperatives and federations like Kendriya Bhandar, NCCF and NAFED for sale at a concessional rate of 2,350 per 100 kg, for conversion to atta price of which will be capped at 29.50 per kg. NCCF has been allowed to lift 50,000 tonne of wheat under the scheme across seven states.

According to the ministry, 100,000 tonne of wheat has been allocated to NAFED and Kendriya Bhandar each under the scheme to bring down the price of atta across the country.

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