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Sunday / May 26. 2024
HomeAgroPolicyFCI conducts 6th e-auction of wheat

FCI conducts 6th e-auction of wheat

Till the 5th e-auction, 28.86 LMT wheat stock has been sold

As a part of Govt of India’s initiative for market intervention to control the price of wheat and atta, in the sequel of weekly e-auctions of wheat, the 6th e-auction was conducted by the Food Corporation of India. A total quantity of 10.69 LMT of wheat was offered from 611 depots across 23 Regions of FCI and 4.91 LMT of wheat has been sold to 970 bidders.

In the 6th e-auction, against the all-India weighted average reserve price of Rs. 2140.46/qtl, the weighted average selling price received was Rs 2214.32 /qtl. In the 6th e- auction Quantities ranging from 100 to 499 MT had maximum demand followed by quantities of 500-999 MT followed by the 50-100 MT quantity bracket.

Till the 5th e-auction, 28.86 LMT wheat stock has been sold against which 23.30 LMT has been lifted.

After the 6th e-auction, the cumulative sale of wheat under OMSS (D) has touched 33.77 LMT against the overall allocation of 45 LMT. The sale has brought a significant effect in cooling down the price of wheat and atta all over the country which is likely to remain stabilised with the future tenders for the open sale of wheat under OMSS.

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