Bidders Can Purchase 200 MT Wheat Through Open Market Sale Scheme From November 1

Bidders can purchase 200 MT wheat through Open Market Sale Scheme (Domestic) from 1 November 2023, said a Ministry of Consumer Affairs, Food & Public Distribution, release.

“To increase the availability of wheat in the open market and to further stabilize the prices of wheat, w.e.f. 01.11.2023, the maximum quantity a bidder can purchase under Open Market Sale Scheme (Domestic) [OMSS (D)] has been increased to 200 MT from 100 MT and the total quantity offered per e-auction across India has been increased to 3 LMT from 2 LMT,” the official release said.

The traders are kept out from the ambit of wheat sale under OMSS (D) in order to avoid hoarding of stocks and regular checks/inspections are also being made at the Flour Mills of the processors who have purchased wheat under OMSS (D). Till 26.10.23, 1627 checks across the country have been made.

As a part of Govt of India initiative for market intervention to control the retail price of rice, wheat and atta, weekly e auctions of both wheat and rice are organized. The 18th e-auction of 2023-24 was held on 26.10.2023. A quantity of 2.01 LMT wheat from 444 depots was offered across the country.

In the e-auction, 2763 empaneled buyers participated for wheat. And 1.92 LMT wheat was sold to 2318 successful bidders.

The weighted average selling price was Rs. 2251.57/qtl for FAQ wheat against the reserve price of Rs. 2150/qtl Pan India whereas weighted average selling price of URS wheat was Rs. 2317.85/qtl against the reserve price of Rs. 2125/qtl.

This article has been republished from ZeeNews India