FCI offers 11.72 LMT wheat via 620 depots in 3rd e-auction

New Delhi, Feb 18 (IANS) Food Corporation of India (FCI) has offered 11.72 LMT wheat through 620 depots in the country in the 3rd e-auction.

Consumer Affairs Department officials said that for the 3rd e-auction, bidders who have registered themselves on the e portal of M Junction by 10 p.m. 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 2.30 p.m.

Aiming to check inflationary trend in the food economy, the Department of Food and Public Distribution (DFPD) has decided to further reduce reserve price upto March 31.

The reserve price under Open Market Sale Scheme (Domestic) has been fixed at Rs 2,150 per Qtl (Pan India) for wheat and Rs 2,125 Qtl (Pan India) for wheat (under relaxed specifications) of all crops including Rabi Market Season (RMS) 2023-24 for sale of wheat to private parties.

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 February 22.

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 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 further bring down the prices of wheat and atta.