FCI to offload 3 million tonnes of wheat to arrest soaring open market prices
30 January 2023
The Food Corporation of India (FCI) will offload 3 million tonnes of wheat from the central pool stock to the market through various routes under the open market sale scheme (domestic) through traders, state governments and cooperatives/federations/PSUs in a bid to ease domestic wheat and atta prices
Offloading of 3 million tonnes of 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 prices of wheat and atta and will help contain rising prices, bringing much relief to the common man.
To address the issue of rising price of wheat and atta in the country, the group of ministers headed by home minister Amit Shah met on Wednesday and discussed the buffer stock position of the country. Te committee of ministers approved the following options in order to have a quick impact on the rising prices
Following are the options to offload wheat to the open market:
Wheat will be offered to flour mills, bulk buyers etc through e-auction for a maximum quantity of 3,000 tonnes per buyer, per auction, from various FCI regional godowns under e-auction.
Wheat will also be offered to state governments/UTs for their schemes without e-auction.
Apart from the above channels, wheat will be offered at a concessional rates of Rs2,350 per quintal to government PSUs/cooperatives/federations, Kendriya Bhandar/NCCF/NAFED etc without e-auction. The sale under this special scheme will be subject to the stipulation that the buyer will convert wheat to atta and offer it to public at an Maximum Retail Price of Rs. 29.50 per Kg.
It is decided that Food Corporation of India will offload wheat within the next two months to the market for immediate impact on the rising wheat and Atta prices.
FCI will start the process of E- auction of stocks immediately, throughout the country during January to March 2023.