Reduction in reserve price to help in reducing market price of Wheat and wheat products
Posted On: 17 FEB 2023 4:59PM by PIB Delhi
To check inflationary trend in food economy, the Department of Food and Public Distribution (DFPD) has decided to further reduce reserve price upto 31st March, 2023 as under: Read More Business News on our website.
- The reserve price under Open Market Sale Scheme (Domestic) {OMSS (D)} has been fixed at Rs 2150/Qtl (Pan India) for wheat (FAQ) and Rs. 2125 Qtl (Pan India) for wheat (URS) of all crops including RMS 2023-24 for sale of wheat to private parties.
- States may be allowed to purchase wheat from FCI for their own scheme at above proposed reserve prices without participating in e-auction.
Reduction in reserve price will help in reducing market price of wheat and wheat products for consumers.
FCI will float 3rd e-auction for sale of wheat at these revised reserve prices on 17.02.2023 which will be opened on 22.02.2023.
The Committee of Ministers decided to release 30 LMT wheat from FCI stock through Open Market Sale Scheme (OMSS) as follows:
- 25 LMT be offered through the e-auction route to traders, flour mills, etc as per the usual process followed by FCI. Bidders can participate in e-auction for a maximum quantity of 3000 MT per region per auction.
- 2 LMT be offered to State Governments for their schemes @10,000 MT/State without e-auction.
- 3 LMT be offered to Govt PSUs/cooperatives/Federations such as Kendriya Bhandar /NCCF/NAFED etc without e-auction.
Subsequently, the Department made allocation of 3 LMT of wheat to Kendriya Bhandar/ NAFED /NCCF as per their requisitions. Kendriya Bhandar, NAFED and NCCF were allocated 1.32 LMT, 1 LMT and 0.68 LMT respectively.
Further, the rate of wheat on 10.02.2023 has been reduced to Rs. 21.50/Kg for sale to NCCF/NAFED/ Kendriya Bhandar/State Govt. Cooperatives/ Federations etc as well as community kitchen /charitable/NGO etc subject to stipulation that they will convert wheat to atta and sell it to consumers at MRP Rs. 27.50/Kg.