State-owned Food Corporation of India (FCI) will offload 3-5 lakh tonne of wheat to small private buyers under the Open Market Sale Scheme (OMSS) via e-auction that will kick start on June 28, its Chairman and Managing Director Ashok K Meena said on Thursday.
Under the OMSS, the government has decided to offload 15 lakh tonne of wheat from the central pool flour millers, private traders, bulk buyers and manufacturers of wheat products till March 2024 to check prices.
“We will offer 3-5 lakh tonne of wheat in the first e-auction to be held on June 28. The registration process has already begun,” Meena told reporters.
The reserve price of wheat has been fixed at Rs 2,150 per quintal for fair and average quality and Rs 2,125 per quintal for under relaxed specifications (URS) variety for pan India up to December 31, he said.
In the case of rice, the auction will commence on July 5 and the quantity will be offered as per the requirement.
The reserve price of rice has been fixed at Rs 3,100 per quintal for private parties pan India up to October 31, 2023.
This article has been republished from The Business Standard