Tatsat Chronicle Magazine

FCI To Offload 11.72 Lakh Metric Tonnes Of Wheat In The Third Round Of E-Auction

February 18, 2023

In the third round of e- auction, the Food Corporation of India will be putting up 11.72 LMT of wheat for sale through its 620 depots across the country under the open market scheme.

For the third round e-auction, bidders who have registered themselves on the portal of M-Junction by 10:00 pm on February 17 will be allowed to participate in the e-auction on February 22. The last date for deposit and uploading of EMD is February 21 till 02:30 pm. Third e-auction will start at 11:00 am on February 22.

The government has revised the reserve price for sale of wheat through OMSS (D) scheme throughout the country. Now, the reserve price of FAQ wheat will be ₹2150 per quintal across  India and that of URS wheat will be ₹2125 per quintal. This decision has been taken to ensure that wheat is offered at a lower uniform reserve price across the country to further bring down the price of wheat and atta. These new reserve prices are applicable from the third sale of wheat through e – auction, which will be held throughout the country on Wednesday, February, 22, 2023.

In order to address the rising price of wheat and Atta in the country, as per the recommendation made by the Group of Ministers, Food Corporation of India is releasing 30 LMT of Wheat stock from the Central pool stock to the market through various routes under the Open Market Sale Scheme (Domestic).

During first and second rounds of e –auction a total quantity of 12.98 LMT wheat has been sold, out of which 8.96 LMT has already been lifted by the bidders which has resulted in cooling down of prices of wheat and atta.

The announcement of revision in uniform reserve price across the country by the GOI would benefit the consumer across the country and would further bring down the prices of wheat and atta.