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India’s FCI sells 170 lt rice as recycled PDS rice rules cheaper

Source The Hindu Businessline

Posted on July 7, 2023

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Food Corporation of India (FCI) has sold only 170 tonnes or 0.04 per cent of 3.86 lakh tonnes of rice offered in the first auction under the open market sale scheme (OMSS). On the other hand, 32 per cent offtake has been reported in the case of wheat in the second round, up from 21 per cent in the first round.

The average selling price of wheat in the auction was ₹2,137.33 per quintal, against a reserve price of ₹2,125/ quintal for the URS variety and ₹2,150/quintal for the FAQ variety. There were 1,337 successful bidders, sources said. The pan-India average selling price was ₹2,136/quintal in the first round.

For More Details Visit: https://www.thehindubusinessline.com/economy/agri-business/only-170-tonnes-out-of-386-lt-rice-sold-in-fci-auction-wheat-offtake-improves/article67048166.ece