Ministry of Consumer Affairs sells 1.89 LMT wheat and 0.05 LMT rice in 15th e-auction
Oct 05, 2023
New Delhi [India], October 5 : In an effort to maintain control over the retail prices of essential food items such as rice, wheat, and atta, the Ministry of Consumer Affairs, Food and Public Distribution conducted its 15th e-auction under the Open Market Sale Scheme (Domestic) (OMSS[D]).
During this e-auction, a total of 1.89 Lakh Metric Tons (LMT) of wheat and 0.05 LMT of rice were successfully sold to 2255 bidders, read the Ministry of Consumer Affairs, Food and Public Distribution press release.
The auction took place on Wednesday, October 4, 2023, and featured offerings from 481 depots comprising 2.01 LMT of wheat and 264 depots comprising 4.87 LMT of rice from various parts of the country, read the press release.
A total of 2447 empanelled buyers participated in the e-auction, demonstrating a strong interest in the procurement of these essential commodities.
The weighted average selling price for wheat reached Rs 2185.05 per quintal, surpassing the reserve price of Rs 2150 per quintal across India, read the press release
Similarly, the weighted average selling price for URS wheat was Rs 2193.12 per quintal against the reserve price of Rs 2125 per quintal.
In the case of rice, the weighted average selling price amounted to Rs 2932.91 per quintal, closely aligned with the reserve price of Rs 2932.83 per quintal across India.
As part of the current e-auction approach, there is a focus on reducing retail prices. This is achieved by offering a quantity range of 10 to 100 tons for wheat buyers and 10 to 1000 tons for rice buyers.
This strategy encourages the participation of small and marginal end users and ensures a broader range of participants from different depots, read the release.
To prevent hoarding, traders have been excluded from the wheat sale under OMSS (D), and regular inspections have been conducted at the Flour Mills of processors who have acquired wheat through OMSS (D).
Up to October 4, 2023, a total of 1229 inspections have been carried out nationwide, reflecting the government's commitment to preventing unfair practices in the sale of essential food items.
These measures are part of the government's efforts to maintain food security and control food prices for the benefit of consumers across the country.
