FCI Sells 4.91 Lakh Tonnes Wheat In Open Market In The Sixth Round Of e-Auction

The Centre has announced the sale of 50 lakh tonnes of wheat under the Open Market Sale Scheme (OMSS), of which 45 lakh tonnes have been earmarked for bulk users to cool retail prices. The 6th round of e-auction was conducted by the Food Corporation of India (FCI) on March 15.

State-owned FCI has sold 4.91 lakh tonnes of wheat to bulk consumers like flour millers in the sixth round of e-auction to bring down the retail prices of grain and wheat flour (atta). The Centre has announced the sale of 50 lakh tonnes of wheat under the Open Market Sale Scheme (OMSS), of which 45 lakh tonnes have been earmarked for bulk users to cool retail prices.

According to an official statement, the 6th round of e-auction was conducted by the Food Corporation of India (FCI) on March 15.

"Total quantity of 10.69 LMT wheat was offered from 611 depots across 23 Regions of FCI and 4.91 LMT of wheat has been sold to 970 bidders," it added.

After the 6th round of e-auction, the cumulative sale of wheat under the OMSS has touched 33.77 lakh tonnes against the overall allocation of 45 lakh tonnes.

"The sale has brought significant effect in cooling down the price of wheat and atta all over the country, which is likely to remain stabilized with the future tenders for the open sale of wheat under OMSS (D)," the statement said.

In the 6th round of e-auction, against the all-India weighted average reserve price of Rs 2,140.46 per quintal, the weighted average selling price received was Rs 2,214.32 per quintal.

Food Corporation of India (FCI) sold 28.85 lakh tonnes of wheat to bulk consumers in the previous five rounds of e-auction.

Previously, the State-run Food Corporation of India (FCI) sold 5.40 lakh tonnes of wheat to bulk consumers like flour millers in the fourth round of e-auction held on Wednesday.

In the previous three rounds, about 18.05 lakh tonnes of wheat was sold under the Open Market Sale Scheme (OMSS) to bulk users as part of steps to cool down retail prices of the foodgrain and wheat flour. The next weekly e-auction was held on March 8.

"Total quantity of 11.57 lakh tonne wheat was offered and 5.40 lakh tonne wheat has been sold to 1,049 bidders in 23 states," an official statement said.

-With PTI Inputs

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