Tatsat Chronicle Magazine

8.88 LMT Wheat Sold On The First Day Of E-Auction By Food Corporation Of India (FCI)

February 2, 2023
Wheat Export Ban

Food Corporation of India (FCI) offered 22 lakh metric tonne (LM)T 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 February 1, 2023. More than 1,100 bidders came forward for participation in the first e-auction. A quantity of 8.88 LMT was sold in the first day of e-auction in 22 states.

Further sale of wheat through e-auction will continue throughout the country on every Wednesday till second week of March 2023. The Government of India has reserved 3 LMT wheat for  PSUs,  cooperatives, and federations such as Kendriya Bhandar, NCCF, and NAFED for sale without e-auction at the concessional rate of ₹2,350 per quintal for converting wheat to flour (atta) and offer it to public at an maximum retail Price of ₹29.50 per kg.

NCCF has been allowed to lift 50,000 MT of wheat stock under the above scheme across seven states. Allotment of one LMT has been made to NAFED and one LMT to Kendriya Bhandar under this scheme to bring down the price of atta  across the country.

Offloading of 30 LMT wheat in the market through OMSS (D) scheme within a span of two months through multiple channels will have wider reach as well as immediate  impact on the soaring wheat and Atta prices and will help containing the rising prices and will bring much relief to the common man.