This step has been taken to increase the availability of wheat in the open market and to further stabilize the prices of wheat.
Representational Image [Photo : IANS]
The Central Government has notified that from November 1, the maximum quantity a bidder can purchase under Open Market Sale Scheme (Domestic) has been increased to 200 MT from 100 MT. Also, the total quantity offered per e-auction across India has been increased to 3 LMT from 2 LMT.
This step has been taken to increase the availability of wheat in the open market and to further stabilize the prices of wheat.
The Ministry of Consumer Affairs, Food & Public Distribution has said that as a part of Govt of India initiative for market intervention to control the retail price of rice, wheat and atta, weekly e-auctions of both wheat and rice are organized.
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As per the ministry, on Thursday, the 18th e-auction of 2023-24 was held where a quantity of 2.01 LMT wheat from 444 depots was offered across the country.
In the e-auction, 2763 empaneled buyers participated for wheat, and 1.92 LMT wheat was sold to 2318 successful bidders, the ministry said.
The weighted average selling price was Rs 2251.57 per quintal for FAQ wheat against the reserve price of Rs 2150 per quintal pan India.
Whereas, the weighted average selling price of URS wheat was Rs 2317.85/qtl against the reserve price of Rs 2125/qtl.
It is to be noted that the traders are kept out from the ambit of wheat sale under OMSS (D) in order to avoid hoarding of stocks and regular checks/inspections are also being made at the Flour Mills of the processors who have purchased wheat under OMSS (D).
As per the ministry circular, till Octobr 26, 2023, 1627 checks across the country have been made.
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