FCI plans to sell 25 to 30 lakh tonnes of wheat in the open market

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Mumbai, dt. 19

Keeping in view the surge in wheat prices, the Food Corporation of India (FCI) plans to sell approximately 25 to 30 lakh tonnes of wheat in the open market by the end of the current month.

These will be sold to wholesale buyers of wheat such as flour millers, FCI sources said. The price of wheat in the mandis of the country has increased to around Rs 3000 per quintal. Until last year, the government used to sell the wheat held by the agencies in the open market through tender. The government has a policy of continuously selling wheat in order not to create a shortage of wheat in the market.

Due to the impact on wheat production in the last season, the purchase of wheat by the government at the support price was also low. After promoting the export of wheat at the beginning of the 2022-23 season, the government has banned it.

The government has increased availability of wheat after the free ration scheme under the Pradhan Mantri Garib Kalyan Anna Yojana was covered under the National Food Security Act, which it will sell in the open market.

FCI currently has 1.71 crore tonnes of wheat stock as compared to 3.30 crore tonnes last year.

In the current ravi season, wheat cultivation has been 3.37 crore hectares, which was 3.32 crore hectares last year. Wheat is the main rabi crop.

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