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Business News | The government will unload 30 lakh tons of wheat on the open markets to contain the rise in prices

New Delhi [India]Jan 25 (ANI): The Food Corporation of India (FCI) will unload 30 lakh tons of core group wheat in the markets under the Open Market Selling Scheme, an official statement from the Ministry of Consumer Affairs, Food and Public Distribution. he declared on Wednesday.

It is decided that the Food Corporation of India will unload wheat in the next two months.

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“The unloading of 30 LMT of wheat into the market through the OMSS(D) scheme within a two-month span through multiple channels will have a broader reach as well as an immediate impact on the rising prices of Wheat and Atta and will help contain the price increase and bring much relief to the common man,” the statement added.

To address the rising price of wheat and its derived wheat flour in the country, the group of ministers headed by Union Home Minister Amit Shah met on Wednesday and discussed the position of reserve stocks of the grain. food.

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In order to have a quick impact on rising prices, the Committee of Ministers approved the following options for unloading wheat on the market.

The wheat will be offered to flour millers and bulk buyers via electronic auction for a maximum quantity of 3,000 tonnes per buyer, per auction, from an FCI electronic auction region.

Wheat will also be offered to UT and state governments for their no electronic auction schemes.

In addition, wheat will be offered at a preferential rate of Rs 2350 per 100kg to PSU/cooperatives/government federations, Kendriya Bhandar/NCCF/NAFED without electronic auction.

“Sale under this special scheme will be subject to the stipulation that the buyer will convert the wheat into atta and offer it to the public at a maximum retail price of Rs 29.50 per kg,” the government statement said.

FCI will start the electronic share auction process immediately, he added. (AND ME)

(This is an auto-generated, raw story from the syndicated news feed, the body of the content may not have been modified or edited by LatestLY staff)

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