Wheat provide. (Representational pic/Shutterstock)
Bulk patrons like flour millers, and small merchants can now bid for 200 tonnes in e-public sale as towards 100 tonnes at present below Open Market Sale Scheme
In order to additional stabilise costs of wheat and wheat flour, the central authorities on Friday elevated the bid amount below the open market sale scheme for wheat supplied from the central pool to 200 tonne, with impact from November 1.
Under the Open Market Sale Scheme (OMSS), bulk patrons like flour millers, and small merchants can now bid for 200 tonnes in e-public sale, towards 100 tonnes at present.
Food Corporation of India, the federal government’s nodal company for procurement and distribution of foodgrains, is offloading wheat from its buffer inventory below the OMSS. Consequently, the full amount supplied per e-public sale throughout the nation has additionally been elevated from 2 lakh tonne to 3 lakh tonne, the assertion stated.
The enhance within the bid amount is aimed toward enhancing the provision of wheat within the open market and to additional stabilise the costs of wheat, it stated. State-owned Food Corporation of India (FCI) is promoting wheat and rice from the central pool to bulk patrons comparable to flour millers and small merchants below the OMSS since June 28 by way of a weekly e-public sale to management the retail costs of those commodities.
In the 18th spherical of e-public sale on October 26, about 1.92 lakh tonne of wheat was bought to 2,318 profitable bidders. About 2.01 lakh tonne of wheat had been supplied on the market from 444 depots throughout the nation. As many as 2,763 empanelled patrons participated within the e-public sale.
The weighted common promoting value was Rs 2,251.57 per quintal for honest and common high quality wheat, as towards the reserve value of Rs 2,150 per quintal. The weighted common promoting value of below relaxed specification wheat was Rs 2,317.85 per quintal as towards the reserve value of Rs 2,125 per quintal.
The ministry stated merchants are stored out of the ambit of wheat sale below OMSS to keep away from hoarding of shares. Regular checks and inspections are additionally being made on the flour mills of the processors who’ve bought wheat below OMSS, the assertion stated, including that 1627 checks had been undertaken until October 16.
(With Inputs From PTI)
