Wheat: 3.85 LMT wheat inventory offered for Rs 901 crore in second e-auction by Meals Company of India – Occasions of India

Greater than 1060 bidders participated and three.85 LMT wheat was offered through the second e-auction organised by the Meals Company of India (FCI) on 15.02.2023. The company supplied 15.25 LMT Wheat inventory through the public sale. Within the second e-auction portions starting from of 100 to 499 MT had most demand adopted by portions of 500-1000 MT adopted by 50-100 MT indicating that small and medium flour millers and merchants actively participated within the public sale. Solely 5 bids have been obtained for the utmost amount of 3000 MT at one go.
Weighted common fee of Rs. 2338.01/Qtl was realised by FCI within the public sale. Rs. 901 Cr was generated by FCI within the 2nd e-auction.
With a purpose to deal with the rising value of wheat and Atta within the nation, as per the advice made by the Group of Ministers, FCI is providing wheat for e-auction. The sale of wheat via e. public sale will proceed all through the nation on each Wednesday until 2nd week of March 2023.
Authorities has additionally allotted 3 LMT wheat to Govt. PSUs/cooperatives/Federations like Kendriya Bhandar, NCCF and NAFED on the market with out e-auction. The concessional charges for wheat to be lifted @Rs 23.50/ Kg and Atta to be issued to public @ MSP not exceeding Rs 29.50 /KG underneath this scheme has additionally been revised by GoI @ Rs 21.50/Kg and sale of Atta from such inventory @MSP not exceeding Rs. 27.50 per Kg.
Serving to farmers
Nationwide Cooperative Customers’ Federation of India Restricted (NCCF) has been allowed to elevate 68000 MT of Wheat inventory underneath the above scheme throughout 8 states. Allotment of 1 LMT Wheat is made to NAFED and 1.32 LMT Wheat made to Kendriya Bhandar underneath this scheme to deliver down the worth of Atta throughout the nation and sale of Atta been operationalized by these cooperatives after lifting of inventory from FCI.
Offloading of greater than 25 LMT wheat inventory out of 30 LMT earmarked on the market underneath OMSSD (D) out there via OMSS (D) scheme inside a span of two months via a number of channels may have impression to include the inflationary value development of Wheat and Atta and in addition stabilised value rise in meals economic system bringing reduction to the frequent man sustaining the target of scheme.

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