FCI has offered 33 lakh tonnes of wheat until March 15 by way of e-auction, out of which, patrons have lifted 31 lakh tonnes of the grain up to now. (Photo: Reuters)
The authorities goals to acquire 34.15 million tonnes wheat within the 2023-24 advertising and marketing 12 months beginning April, greater than 18.79 million tonnes bought within the earlier 12 months
State-owned Food Corporation of India (FCI) on Monday stated wheat sale at discounted charges through e-auction to bulk shoppers, establishments and state governments has been stopped for now as procurement of the contemporary crop begins subsequent month.
Under the Open Market Sale Scheme (OMSS), the FCI has offered 33 lakh tonnes of wheat until March 15 by way of e-auction, out of which, patrons have lifted 31 lakh tonnes of the grain up to now. They must elevate the stability amount by March 31.
“The final e-auction of wheat to bulk shoppers was undertaken on March 15. The public sale has been stopped for now as the procurement of the contemporary crop will decide up within the coming days,” FCI Managing Director Ashok K Meena told PTI.
Sale of wheat to institutions like Nafed and state governments under the OMSS has also been stopped. The wheat auction will resume only if there is a need to intervene in the market, he added.
The government in January had announced plans to sell wheat in the open market from its buffer stock under the OMSS in order to check rising wheat and wheat flour prices.
A total of 50 lakh tonnes of wheat was allocated for sale under the OMSS. Out of the allocated quantity, FCI was mandated to sell a total of 45 lakh tonnes of wheat to bulk users till March 15 through weekly e-auctions.
About 3 lakh tonnes of wheat was earmarked for state governments and 2 lakh tonnes for institutions like Nafed for converting it into wheat flour and then selling at Rs 27.50 per kilogramme.
Under the OMSS, the reserve price of fair and average (FAQ) quality wheat was also fixed at a discounted rate of Rs 2,150 per quintal, while for Under Relaxed Specifications (URS) wheat at Rs 2,125 per quintal. FCI is the government’s nodal agency for procurement and distribution of foodgrains.
The government aims to procure 34.15 million tonnes wheat in the 2023-24 marketing year starting April, higher than 18.79 million tonnes purchased in the previous year. Wheat procurement had declined last year due to a fall in domestic production and higher exports.
However, the government has projected a record wheat production at 112.18 million tonnes in the 2023-24 crop year (July-June) as per the second estimate of the agriculture ministry.
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