Govt To Off Load 30 Lakh Metric Tonne Wheat In Market To Combat Rising Prices

In an effort to address the rising price of wheat and flour in India, the Government will off load 30 lakh metric tonne of wheat in the market within the next two months.

The Food Corporation of India (FCI), under the Ministry of Food and Public Distribution, on Wednesday (25 January) announced plans to offload 30 LMT of wheat from the central pool stock to the market through various routes under the Open Market Sale Scheme (Domestic).

The move, which is expected to have a wider reach and immediate impact on prices, was approved by a Group of Ministers headed by Union Home Minister Amit Shah.

According to the plan, wheat will be offered to flour millers and bulk buyers, through e-auction for a maximum quantity of 3000 MT per buyer, per auction, from a FCI region.

Wheat will also be offered to State Governments/UTs for their schemes without e-auction, the Food Ministry said in a statement.

Additionally, the wheat will also be offered at a concessional rate of Rs 2,350 per quintal to government PSUs, cooperatives, Federations, Kendriya Bhandar, NCCF, and NAFED without e-auction, subject to the stipulation that the buyer will convert the wheat to Atta and offer it to the public at a Maximum Retail Price of Rs 29.50 per Kg.

The FCI will begin the process of e-auctioning the stocks immediately, throughout the country from January to March 2023.