As a part of Govt of India initiative for market intervention to control the retail price of rice, wheat and atta, weekly e auctions of both wheat and rice are organized. The 19th e-auction of 2023-24 was held on 01.11.2023.
To increase the availability of wheat in the open market, the weekly offered quantity of wheat has been increased to 3 LMT and the maximum qty. that a bidder can purchase under OMSS (D) has been increased to 200 MT w.e.f. 01.11.2023.
As a result, 2.87 LMT wheat has been sold to 2389 bidders in the e-auction dated 01.11.2023.
The weighted average selling price was Rs. 2291.15/qtl for FAQ wheat against the reserve price of Rs. 2150/qtl Pan India whereas weighted average selling price of URS wheat was Rs. 2311.62/qtl against the reserve price of Rs. 2125/qtl.
Further, to keep the prices in check, GOI has decided that the sale for wheat under OMSS (D) will continue till 31.03.2024 and 101.5 LMT wheat will be offloaded till 31.03.2024
The traders are kept out from the ambit of wheat sale under OMSS (D) and till 31.10.23, 1721 random checks have been made across the country in order to avoid hoarding of stocks.
(Source: PIB)
