FCI calls for EOI from rice buyers

Food Corporation of India (FCI) plans to sell raw and boiled rice with 10% broken rice grains to traders, bulk buyers and manufacturers of rice products. It has called for expression of interest from such buyers and they can upload their needs on the FCI website. 

This is perhaps the first time that FCI is selling rice with such less quantity of brokens. It is usually around 16%.

According to sources in the Regional office of the FCI here, the rice is to be sold under Open Market Sale Scheme (Domestic) on long term basis of 6-8 months. The rice will be sold at ₹3,000 per quintal till 31 October. It will also sell broken rice at ₹ 2,250 per quintal, which works out to ₹ 22.50 per kilo. 

Sources in the paddy and rice business said that the FCI has around 19 million tonnes of rice procured from farmers all over for the public distribution system and wants to off-load the same. 

“There are people who will buy this rice for further trading maybe. However, it will not help bring down prices in any way since rice prices are already down due to surplus production. Also, this is ration quality rice. Many people in the State prefer only fine varieties,” he explained. 

This article has been republished from The Hindu.