FCI to offer 11.72 lakh tonnes wheat stock in 3rd e-auction on February 22

New Delhi: State-run Food Corporation of India (FCI) will offer 11.72 lakh tonnes of wheat to bulk consumers like flour millers during the third e-auction to be held next week, the food ministry said on Saturday.

FCI plans to sell 25 lakh tonnes of wheat to bulk consumers under the Open Market Sale Scheme (OMSS) till March-end as part of the government’s measure to check rise in domestic prices.

In the last two weekly e-auctions, about 12.98 lakh tonnes wheat was sold, out of which 8.96 lakh tonnes has already been lifted by the bidders which has resulted in cooling down of retail prices of wheat and atta.

In a statement, the food ministry said FCI will offer 11.72 lakh tonnes of wheat from 620 depots across the country during the third e-auction to be held at 11 am on February 22.

Bidders, who have registered themselves on the e-portal of M-Junction by 10 pm on February 17, will be allowed to participate in the e-auction on February 22, it said.

The last date for deposit and uploading of earnest money is February 21 till 2:30 pm.

On Friday, the government further reduced the reserve price for sale of wheat through OMSS scheme to bring down the price of wheat and atta.

The reserve price of fair and average (FAQ) quality wheat has been reduced to Rs 2,150 per quintal, while for Under Relaxed Specifications (URS) wheat to Rs 2,125 per quintal.

These new reserve prices are applicable from the third sale of wheat through e-auction. “The announcement of revision in uniform reserve price across the country by the GOI would benefit the consumer across the country and would further bring down the prices of wheat and atta,” the ministry said.

In order to address the rising price of wheat and Atta in the country, as per the recommendation made by the Group of Ministers, FCI is releasing a toal 30 lakh tonnes wheat stock from the Central pool stock to the market through various routes under the OMSS.