FCI sold 1.66 lakh tonnes of wheat, 17,000 tonnes of rice in the open market – Dainik Savera Times
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New Delhi: Public sector Food Corporation of India (FCI) has sold 1.66 lakh tonnes of wheat and 17,000 tonnes of rice from the central pool through the 11th e-auction last week under the Open Market Sale Scheme (OMSS) to keep retail prices under control. The government had last month announced that it would sell additional 50 lakh tonnes of wheat and 25 lakh tonnes of rice from the central pool in the open market to bulk buyers to keep grain prices under control.
In the 11th e-auction held on September 6, a total of 2 lakh tonnes of wheat was offered from 500 depots across the country and 4.89 lakh tonnes of rice was offered from 337 depots across the country, the Food Ministry said in a statement. According to the statement, “1.66 lakh tonnes of wheat and 0.17 lakh tonnes of rice were sold in the e-auction.” The weighted average selling price was Rs 2,169.65 against the reserve price of Rs 2,150 per kg for fair and average quality (FAQ) wheat across the country. The weighted average selling price of wheat with certain relaxation in norms (URS) stood at Rs 2,150.86 per against the reserve price of Rs 2,125 per.
The weight average selling price for rice was Rs 2,956.19 per kg, while the all-India reserve price was Rs 2,952.27 per kg. To encourage participation of small retailers to reduce retail prices, FCI is offering a maximum of 100 tonnes of wheat and 1,000 tonnes of rice to a buyer, the ministry said. This decision was taken to encourage small and marginal end users and to ensure that more participants can come forward and bid for quantities from the depot of their choice.
According to official data, the all-India average retail price of wheat has remained stable at Rs 30 per kg as on September 10 due to the government’s measures including open market sale scheme and ban on wheat exports. While wheat flour remains at Rs 35.62 per kg. During the same period a year ago, wheat was priced at Rs 30.39 per kg while flour was priced at Rs 35.72 per kg. However, despite other measures including ban on export of some varieties of rice, the price of rice still remains high. As of September 10, the all India average retail price was Rs 42.26 per kg, which was Rs 37.44 per kg during the same period a year ago.
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