FCI to offer 11.72 lakh tonnes of wheat to bulk consumers in e-auction
Food Corporation of India (FCI) will offer for sale 11.72 lakh tonnes of wheat to bulk consumers like flour mills during the third e-auction to be held next week. The Food Ministry gave this information on Saturday.
Food Corporation of India (FCI) will offer for sale 11.72 lakh tonnes of wheat to bulk consumers like flour mills during the third e-auction to be held next week. The Food Ministry gave this information on Saturday. FCI plans to sell 2.5 million tonnes of wheat to bulk consumers under the Open Market Sale Scheme (OMSS) by March-end as part of the government’s efforts to check the rise in domestic prices. About 12.98 lakh tonnes of wheat was sold in the last two weekly e-auctions, out of which 8.96 lakh tonnes have already been lifted by the bidders, resulting in fall in retail prices of wheat and flour.
The Food Ministry said in its statement that FCI will offer for sale 11.72 lakh tonnes of wheat from its 620 depots across the country during the third e-auction to be held on February 22 at 11 am. Bidders who register themselves on the e-portal of M-junction by 10 PM on Friday night will be allowed to participate in the auction. The last date for depositing and uploading the EMD is February 21 by 2:30 PM. The government on Friday further reduced the reserve price for sale of wheat under the OMSS scheme to bring down the prices of wheat and flour.
The reserve price of fair and average (FAQ) quality wheat has been reduced to Rs 2,150 per quintal, while the reserve price of under relaxed specifications or somewhat less quality (URS) wheat has been reduced to Rs 2,125 per quintal. These new reserve prices are applicable for wheat sold for the third time through e-auction. The ministry said, “The announcement of revision in uniform reserve price by the Government of India across the country will benefit consumers across the country and bring down the prices of wheat and flour further.”
To curb the rising price of wheat and flour in the country, as recommended by the government, FCI is releasing a total of 30 lakh tonnes of wheat stock from the central pool stock under OMSS to the market through various routes. Out of this 30 lakh tonnes, FCI will sell 25 lakh tonnes through e-auction to bulk consumers like flour mills, while 2 lakh tonnes to States/UTs and 3 lakh tonnes to institutions and state-public undertakings at subsidized rates. Will be given to convert into flour.
Disclaimer:Prabhasakshi has not edited this news. This news has been published from PTI-language feed.