Next wheat auction in open markets to be held on Feb 15

New Delhi [India], February 5 (ANI): The next e-auction of wheat under the open market sale scheme will be held across states on February 15, 2023.

On January 25, the government said FCI would offload 30 lakh tonnes of wheat from the central pool in the markets under the Open Market Sale Scheme, within the next two months, for containing the rising domestic prices of the staple foodgrain.

Food Corporation of India offered 22 lakh tonne of wheat out of 25 lakh tonne earmarked in the first e-auction through the open market sale that took place from Wednesday-Thursday.

Of which, a quantity of 9.2 lakh tonne was sold across the country, according to a government release on Friday. In the e-auction, more than 1,150 bidders came forward to participate.

The commencement of the e-auction of wheat in the open market in order to cool the staple food grain’s prices has already left an impact as the government said they retreated over 10 per cent in the past one week.

The e-auction will continue throughout the country every Wednesday till the second week of March 2023.

“Food Corporation of India (FCI) has issued direction to all the winning bidders of first e-auction held on 1st and 2nd February to remit the cost and lift the stock immediately from concerned depots across the country and make the same available in respective markets in order to further contain the prices,” the food and public distribution ministry said, adding that the prices are set to fall further after the wheat sold in the e auction is lifted and flour is made available.

In order to address the rising price of wheat and Atta in the country, the Group of Ministers headed by Home Minister Amit Shah made some recommendations which are being followed by the Department of Food and Public Distribution.