As part of the Open Market Sale Scheme (OMSS) to control retail prices, the government-owned Food Corporation of India (FCI) sold 1.66 lakh tonnes of wheat and just 17,000 tonnes of rice from the central pool through the 11th e-auction last week.
In order to keep cereal prices in check, the government announced last month that it would sell an additional 50 lakh tonnes of wheat and 25 lakh tonnes of rice from the central pool to bulk buyers on the open market.
According to a statement from the food ministry, in the country’s 11th e-auction, which was held on September 6, a total of 2 lakh tonnes of wheat from 500 depots and 4.89 lakh tonnes of rice from 337 depots were offered. The e-auction reportedly sold 1.66 lakh tons of wheat and 0.17 lakh tons of rice.
The weighted average selling price was Rs 2,169.65 per quintal for FAQ (fair and average quality) wheat against the reserve price of Rs 2,150 per quintal pan-India, whereas weighted average selling price of URS (Under Relaxed Specifications) wheat was Rs 2,150.86 per quintal against the reserve price of Rs 2,125 per quintal.
For FAQ (fair and average quality) wheat, the weighted average selling price was Rs 2,169.65 per quintal compared to the reserve price of Rs 2,150 per quintal for all of India, while for URS (Under Relaxed Specifications) wheat, the weighted average selling price was Rs 2,150.86 per quintal compared to the reserve price of Rs 2,125 per quintal.
This choice was made, according to the statement, to support small and marginal end users and to make sure that more people could submit bids for the quantity from their preferred depot. Large traders were excluded from the OMSS (D) wheat sale in order to prevent hoarding, and regular checks and inspections are conducted at the flour mills of the processors who have purchased wheat under the scheme.
Thanks to the government interventions including OMSS and ban on wheat export, all-India average retail price of wheat remained flat at Rs 30 per kilogramme and atta (wheat flour) at Rs 35.62 per kg on September 10, when compared to Rs 30.39 per kg for wheat and Rs 35.72 per kg for atta in the year-ago period, as per the official data.
However, rice prices are still ruling higher as all-India average retail price was quoting at Rs 42.26 per kg on September 10 as against Rs 37.44 per kg in the year ago period notwithstanding curbs on export of certain varieties of rice, the data showed.
