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MoneyWorks4Me

Govt releases 26.02 lakh tonnes of wheat for tender sale

05 Sep 2012 Evaluate

The government has released 26.02 lakh tonnes of wheat from its godowns by Food Corporation of India (FCI) under Open Market Sale Scheme (Domestic) during July and August, 2012, as per the written information provided by KV Thomas, Minister for Consumer Affairs Food and Public Distribution System.

The government has taken this step to offload surplus stocks in the Central Pool and in order to increase availability in the market.

The prices of wheat and rice are regularly monitored in the market. Due to release of wheat under open market sale scheme there would be increased availability of wheat. Also during current year, additional 5 million tonnes of foodgrains under TPDS will be released. However, it is expected that increased availability will have a moderating influence on the prices of foodgrains.