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Wheat & Atta Prices: The Food Corporation of India (FCI) on Friday mentioned it can begin weekly e-auctions from February 1 with a reserve worth of Rs 2,350 per quintal plus transportation value. Under this, FCI is planning to promote 25 lakh tonnes of wheat to the majority shoppers. The authorities on Wednesday introduced plans to promote three million tonnes of wheat from its buffer inventory within the open market beneath the Open Market Sale Scheme (OMSS) to verify rising costs of wheat and wheat flour. The flour constructed from this wheat is not going to be bought at a charge of greater than Rs 29.50-30 per kg. The present costs of flour are on the charge of Rs 36-38 per kg. From this perspective, flour could be cheaper by Rs.6 to Rs.8.
Wheat will likely be given at concessional charge
FCI will promote 25 lakh tonnes of wheat to bulk shoppers like flour mills by means of e-auction out of this 30 lakh tonnes. Whereas, 2 lakh tonnes will likely be given to the States/Union Territories and three lakh tonnes to different establishments and State PSUs for changing wheat into flour at a backed charge. It is not going to be allowed to promote it at the next charge of Rs 29.50 per kg.
FCI chairman Ashok Okay Meena gave info
FCI chairman Ashok Okay Meena mentioned, “The tenders will be completed today and the e-auction will be held on Wednesday.” Auction will likely be held on each Wednesday on weekly foundation. He mentioned that the primary public sale will likely be held on February 1, which can run until March 15. Wheat will likely be provided with a reserve worth of Rs 2,350 per quintal plus freight expenses. He mentioned {that a} purchaser can bid for a most amount of three,000 tonnes and a minimal of 10 tonnes. He mentioned, “We hope that small traders and small flour mill owners will take advantage of this opportunity.”
Wheat inventory out there throughout the nation
FCI Chairman mentioned that regional workplaces have been instructed not solely to subject tenders for e-auction of wheat, but additionally native flour millers, merchants and producers of wheat merchandise to register themselves on the FCI platform. have been requested to encourage them to take part within the e-auction. According to the FCI chief, wheat inventory is offered in the entire nation and all of the states will have the ability to present the inventory.
Which state will get how a lot wheat – know
He mentioned that about 5 lakh tonnes of wheat can be provided in Madhya Pradesh and Punjab, 4 lakh tonnes in Maharashtra, 2.5 lakh tonnes in Rajasthan, 1.55 lakh tonnes in Bihar, 1.25 lakh tonnes in West Bengal and one lakh tonnes in Haryana. Meena additionally mentioned that the reserve worth mounted for wheat is the same as the acquisition value and fewer than the financial value of Rs 2,654 per quintal. FCI, the nodal company of the federal government for procurement and distribution of meals grains, had about 156.96 lakh tonnes of wheat in its buffer inventory as on January 26.
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