First e-auction of FCI wheat for pvt buyers under OMSS on June 28
State-owned Food Corporation of India (FCI) will offload 3-5 lakh tonne of wheat to small private buyers under the Open Market Sale Scheme (OMSS) via e-auction that will kick start on June 28, its Chairman and Managing Director Ashok K Meena said on Thursday.
Under the OMSS, the government has decided to offload 15 lakh tonne of wheat from the central pool flour millers, private traders, bulk buyers and manufacturers of wheat products till March 2024 to check prices.
“We will offer 3-5 lakh tonne of wheat in the first e-auction to be held on June 28. The registration process has already begun,” Meena told reporters.
The reserve price of wheat has been fixed at Rs 2,150 per quintal for fair and average quality and Rs 2,125 per quintal for under relaxed specifications (URS) variety for pan India up to December 31, he said.
In the case of rice, the auction will commence on July 5 and the quantity will be offered as per the requirement.
The reserve price of rice has been fixed at Rs 3,100 per quintal for private parties pan India up to October 31, 2023.
Buyers can bid for a minimum of 10 tonne and a maximum of 100 tonne per e-auction for wheat and rice to ensure wider reach and participation of small and marginal buyers. Wheat and rice would be offered from nearly 500 depots of FCI across the country through e-auction, he added.
Besides the OMSS sale of two grains, the government had last week imposed stock on wheat retailers, wholesales, big retail chains and processors.
Source Link :- https://www.business-standard.com/economy/news/first-e-auction-of-fci-wheat-for-pvt-buyers-under-omss-on-june-28-123061501194_1.html
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