The Business Bytes
TBB BUREAU
NEW DELHI, JAN 25, 2023
The Food Corporation of India (FCI) will offload 30 LMT wheat from the Central pool stock to the market through various routes under the Open Market Sale Scheme (Domestic).
Offloading of 30 LMT 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 Wheat and Atta prices and will help containing the rising prices and will bring much relief to the common man.
To address the rising price of wheat and Atta in the country, Group of Ministers headed by Home Minister Amit Shah met today and discussed the buffer stock position of the Country.
In order to have quick impact on the rising prices, wheat will be offered to the flour millers, bulk buyers etc. through e-auction for a maximum quantity of 3000 MT per buyer, per auction, from a FCI Region under e-auction. Wheat will also be offered to State Governments/UTs for their schemes without e-auction. Wheat will be offered at a concessional rates of Rs 2350/ Qtl to Govt 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 has been decided that Food Corporation of India willoffload 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.
