News Karnataka
Wednesday, March 29 2023
Business News

Govt to facilitate sale of 25 lakh MT wheat in open market

Govt to facilitate sale of 25 lakh MT wheat in open market
Photo Credit : IANS

New Delhi: The government is going to offer 25 lakh metric tonnes of wheat for sale from Feb 1, under the open market sale scheme, for which tenders will be uploaded by Food Corporation of India’s (FCI) regional offices.

Buyers willing to purchase wheat stocks can get empanelled themselves with FCI’s e-auction service provider, m-Junction Services Ltd, and bid for stocks.

The empanelment process would be completed within 72 hours for any party who wishes to register its name.

This was announced by FCI Chairman K.K. Meena in a press conference on Friday, where he said that stocks are being offered from all states to ensure that the rising prices are controlled immediately.

To address the rising price of wheat and atta in the country, the government decided earlier this week that FCI will make available 30 lakh metric tonnes of wheat in the market through various routes under the open market sale scheme.

The FCI had started the process of e-auction of stocks within 24 hours of the announcement of this scheme, throughout the country.

Offloading 30 lakh metric tonnes of wheat in the market, within a span of two months through multiple channels, will have wider reach and it will control soaring wheat and atta prices.

Read more:

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Mysuru: Expect pro-people Budget, says CM Bommai

470L farmers benefited from wheat, rice procurement by FCI in 3 yrs

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