Third e-auction: Food Corporation of India offers 11.72 LMT wheat via 620 depots in the country
Feb 18, 2023
New Delhi [India], February 18 : The Food Corporation of India has offered around 11.72 lakh million tonne (LMT) of wheat through its 620 depots across the country for the third e-auction taking place on February 22.
For the 3rd e-auction, bidders who have registered themselves on the e-portal of M Junction by 10 pm on February 17 will be allowed to participate in the e-auction on February 22, according to a statement from the ministry of consumer affairs, food and public distribution. The last date for deposit and uploading of earnest money deposit (EMD) is February 21 till 2:30 pm. The third e-auction will start at 11 am on February 22.
The government has revised the reserve price for sale of wheat through OMSS (D) scheme throughout the country, according to the statement released on Saturday.
Now, the reserve price of fair and average quality (FAQ) wheat will be Rs 2,150 per quintal pan-India and that of under reduced specifications (URS) wheat will be Rs 2,125 per quintal pan-India.
According to the statement, this decision has been taken to ensure that wheat is offered at a lower uniform reserve price across the country to further bring down the price of wheat and atta. These new reserve prices are applicable from the third sale of wheat through e-auction, which will be held throughout the country on Wednesday.
To address the rising price of wheat and atta in the country, as per the recommendation made by the Group of Ministers, Food Corporation of India is releasing 30 LMT of wheat stock from the central pool stock to the market through various routes under the Open Market Sale Scheme (domestic).
During the first and second e-auction, a total quantity of 12.98 LMT wheat has been sold, out of which 8.96 LMT has already been lifted by the bidders which has resulted in the cooling down of prices of wheat and atta.
The announcement of revision in uniform reserve price across the country by the government would benefit the consumer across the country and would further bring down the prices of wheat and atta, the ministry said in the statement.
