FCI to hold second sale of wheat through e-auction on 15 February 2023
The Food Corporation of India (FCI) would hold the second sale of wheat to bulk consumers under the open market sale scheme (OMSS) on 15 February 2023, as per the Ministry of Consumer Affairs, Food & Public Distribution. FCI has been mandated to sell 2.5 million tonnes of wheat from its buffer stock to bulk consumers under the OMSS in order to contain rising prices of wheat and wheat products in the country. The ministry further stated that 920,000 tonnes of wheat was sold through e-auction during 1-2 February 2023 at a reserve price of Rs.2,474 per quintal. This resulted in a decline of wheat prices by more than 10 per cent.