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HomePosts Tagged "e-auction"
AgroPolicy, Foodgrains, India, Supply Chain

As a part of Govt of India’s initiative for market intervention to control the retail price of rice, wheat and atta, weekly e-auctions of both wheat and rice are organised

A total of 1.89 LMT wheat and 0.05 LMT rice were sold to 2255 bidders during the 15th e-auction under the Open Market Sale Scheme (Domestic) (OMSS[D]). A quantity of 2.01 LMT wheat from 481 depots and 4.87 LMT rice from 264 depots were offered from across the country.

As a part of Govt of India’s initiative for market intervention to control the retail price of rice, wheat and atta, weekly e-auctions of both wheat and rice are organised. In the e-auction, 2447 empanelled buyers participated for both wheat and rice.

The weighted average selling price was Rs. 2185.05/qtl for FAQ wheat against the reserve price of Rs. 2150/qtl Pan India whereas the weighted average selling price of URS wheat was Rs. 2193.12/qtl against the reserve price of Rs. 2125/qtl.

The weighted average selling price was Rs. 2932.91/qtl for rice against the reserve price of Rs. 2932.83/qtl Pan India.

In the current tranche of e-auctions, the reduction in retail price is being targeted by offering 10 to 100 tons maximum for a buyer for wheat and 10 to 1000 tons for rice. This decision is to encourage small and marginal end users and to ensure that more participants could come forward and bid for the quantity from their depot of choice.

In order to avoid hoarding of stocks traders were kept out from the ambit of wheat sale under OMSS (D) and regular checks/inspections are being made at the Flour Mills of the processors who have purchased wheat under OMSS (D). Till 04.10.23 1229 checks across the country have been made.

As a part of Govt of India's

AgroPolicy, Foodgrains, India, Supply Chain

The successful implementation of the OMSS(D) policy has ensured that the prices of wheat are kept under control in the open market

As a part of Govt of India’s initiative for market intervention to control the retail price of wheat and atta, the Food Corporation of India (FCI) is offering wheat under the Open Market Sale Scheme (Domestic) [OMSS(D)] through weekly e-auction at the reserve price of Rs. 2125/- per qtl which is at par with the current MSP of wheat.

A quantity of 2.00 LMT wheat is being offered in each weekly auction across the country from more than 480 depots and during the year 2023-24, till 21.09.2023 total of 13 e-auctions have been conducted wherein 18.09 LMT wheat has been sold under the scheme.

The weighted average selling price of wheat during August’23 was Rs. 2254.71/qtl which has come down to Rs. 2163.47/qtl in the e-auction dated 20.09.23. The downward trend in the weighted average selling price of wheat suggests that the market prices of wheat have cooled down in the open market. In each weekly e-auction conducted, the quantity sold has not crossed 90 per cent of the qty offered which shows that sufficient stocks of wheat are being offered across the country.

The successful implementation of the OMSS(D) policy has ensured that the prices of wheat are kept under control in the open market and sufficient stock of wheat is available in the central pool for the continuation of OMSS(D) policy for the remaining period of 2023-24.

The successful implementation of the OMSS(D) policy

AgroPolicy, Foodgrains, India

Reduction in retail price is targeted in the e-auctions to encourage small and marginal end users along with their maximum participation

As a part of the Government of India’s initiative for market intervention to control the retail price of rice, wheat and atta, weekly e auctions of both wheat and rice are organised. The 11th e-auction of 2023-24 was held. A quantity of 2.0 LMT wheat from 500 depots and 4.89 LMT rice from 337 depots were offered from across the country.

In the e-auction, 1.66 LMT wheat and 0.17 LMT rice were sold. The weighted average selling price was Rs. 2169.65/qtl for FAQ wheat against the reserve price of Rs. 2150/qtl Pan India whereas the weighted average selling price of URS wheat was Rs. 2150.86/qtl against the reserve price of Rs. 2125/qtl.

The weighted average selling price was Rs. 2956.19/qtl for rice against the reserve price of Rs. 2952.27/qtl Pan India.

In the current tranche of e-auctions, the reduction in retail price is being targeted by offering up to 100 tons maximum for a buyer for wheat and 1000 tons for rice. This decision is to encourage small and marginal end users and to ensure that more participants could come forward and bid for the quantity from their depot of choice.

In order to avoid hoarding of stocks traders were kept out from the ambit of wheat sale under OMSS (D) and regular checks/inspections are being made at the Flour Mills of the processors who have purchased wheat under OMSS (D). Till 05.09.23 898 checks across the country have been made.

Reduction in retail price is targeted in

AgroPolicy, Foodgrains, India

A quantity of 1.16 LMT wheat from 361 depots and 1.46 LMT rice from 178 depots were offered from across the country

The Food Corporation of India (FCI) organised the 5th e-auction of 2023-24 to sell wheat and rice.  The e-auction sold 1.06 LMT of wheat and 100 MT of rice.

In order to control the retail price of rice, wheat and atta, weekly e-auctions are being organised. The government of India is committed towards price stabilisation and its market intervention is aimed at providing relief to the consumers.

A quantity of 1.16 LMT wheat from 361 depots and 1.46 LMT rice from 178 depots were offered from across the country.

The weighted average selling price was Rs. 2182.68/qtl for FAQ wheat against the reserve price of Rs. 2150/qtl Pan India whereas the weighted average selling price of URS wheat was Rs. 2173.85/qtl against the reserve price of Rs. 2125/qtl.

The average selling price was Rs. 3151.10/qtl for rice against the reserve price of Rs. 3151.10/qtl Pan India.

In the current tranche of e-auctions, the reduction in retail price is being targeted by offering up to 100 tonnes maximum for a buyer for wheat and 1000 tonnes for rice. This decision encourages small and marginal end users and ensures that more participants could come forward and bid for the quantity from their depot of choice.

A quantity of 1.16 LMT wheat from

AgroPolicy, Foodgrains, India, Supply Chain, Sustainability

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.

Till the 5th e-auction, 28.86 LMT wheat

AgroPolicy, Foodgrains, India, People, Supply Chain, Sustainability

Besides, the flour mills were advised to bring down the prices of atta and other products in line with the reduction in market prices of wheat.

Food Corporation of India (FCI) may offload an additional quantity of 20 LMT of wheat in the open market under the Open Market Sale Scheme (OMSS) 2023 for sale through e-auction to flour mills, private traders, bulk buyers and manufacturers of wheat products like previous years. So far 50 LMT of wheat have been decided to offload under OMSS 

The reduction in reserve price along with the additional offloading of 20 LMT of wheat will collectively help in reducing the market price of wheat and wheat products for consumers.

Secretary, DFPD held a Video Conference meeting with the FCI and the representatives of flour millers, associations, federations, atta and suji product manufacturers to review the lifting of stocks in the second auction conducted under OMSS 2023.

Besides, the flour mills were advised to bring down the prices of atta and other products in line with the reduction in market prices of wheat.

Besides, the flour mills were advised to