8.88 LMT wheat sold on the first day of e-auction by the Food Corporation of India under OMSS (D) in 22 States

The Food Corporation of India has offered about 22 lakh metric tonnes (LMT) out of 25 LMT wheat stock set aside for an e-auction of wheat from the central pool stock to the market through various routes under the Open Market Sale Scheme (Domestic) (OMSS (D)) in the first e-auction on February 1, 2023. More than 1,100 bidders came forward for participation in the first e-auction and a quantity of 8.88 LMT was sold on the first day of the e-auction in 22 states.

The sale of wheat through e-auction will continue throughout the country every Wednesday till the second week of March, 2023.

The Government of India has reserved 3 LMT wheat for government Public Sector Undertakings (PSUs)/cooperatives/federations like Kendriya Bhandar, National Cooperative Consumers' Federation of India Limited (NCCF), and National Agricultural Cooperative Marketing Federation of India Ltd. (NAFED) for sale without e-auction at a concessional rate. That would be for converting wheat to atta and for offering it to the public at a Maximum Retail Price (MRP) of US$ 0.36/kg (Rs. 29.50/kg).

The offloading of wheat in the market through the OMSS (D) scheme will have a wider reach as well as an immediate impact on the increasing wheat and atta prices.

Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.