Latest News | FCI Sells 4.91 Lakh Tonnes Wheat in Open Market to Bulk Consumers in Sixth Round of E-auction

New Delhi, Mar 16 (PTI) State-owned FCI has sold 4.91 lakh tonnes of wheat to bulk consumers like flour millers in the sixth round of e-auction to bring down the retail prices of grain and wheat flour (atta).

The Centre has announced the sale of 50 lakh tonnes of wheat under the Open Market Sale Scheme (OMSS), of which 45 lakh tonnes have been earmarked for bulk users to cool retail prices.

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According to an official statement, the 6th round of e-auction was conducted by the Food Corporation of India (FCI) on March 15.

"Total quantity of 10.69 LMT wheat was offered from 611 depots across 23 Regions of FCI and 4.91 LMT of wheat has been sold to 970 bidders," it added.

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After the 6th round of e-auction, the cumulative sale of wheat under the OMSS has touched 33.77 lakh tonnes against the overall allocation of 45 lakh tonnes.

"The sale has brought significant effect in cooling down the price of wheat and atta all over the country, which is likely to remain stabilised with the future tenders for the open sale of wheat under OMSS (D)," the statement said.

In the 6th round of e-auction, against the all-India weighted average reserve price of Rs 2,140.46 per quintal, the weighted average selling price received was Rs 2,214.32 per quintal.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)