A total of 11.57 lakh tonnes of wheat was offered and 5.40 lakh tonnes of wheat was sold to 1,049 bidders in 23 states, said a government statement.
The Food Corporation of India (FCI) sold 5.40 lakh tonnes of wheat to bulk consumers like flour mills in the fourth round of e-auction held on Wednesday. In the last three rounds, about 18.05 lakh tonnes of wheat was sold to bulk users under the Open Market Sale Scheme (OMSS) in an effort to bring down the retail prices of food grains and wheat flour. The next weekly e-auction will be held on March 8.
“A total of 11.57 lakh tonnes of wheat was offered and 5.40 lakh tonnes of wheat was sold to 1,049 bidders in 23 states,” an government statement said. Wheat during the fourth auction was quoted at the all-India weighted average reserve price of Rs 2,137.04 per quintal. was sold.
It said that the maximum demand was for quantity of wheat in the range of 100 to 499 tonnes. “The overall price quoted during the auction shows that the market is soft and wheat price is below Rs 2,200 per quintal on an average,” the statement said.
It has been said that till the end of February, about 14.35 lakh tonnes of wheat was lifted by the bidders. This means that the OMS sale has made a significant impact in cooling down the price of wheat and flour across the country, which is likely to remain stable with future tenders for open sale.
Let us tell you that wheat and flour have become very expensive in the country. The general public has to spend Rs 35 to 40 for one kg of flour. Due to this, the budget of the general public has deteriorated. This is the reason why the central government has started e-auction of wheat to control inflation.
By ntexpress
