State-run Food Corporation of India (FCI) has sold 5.08 lakh tonnes of wheat to bulk consumers like flour millers in the third round of e-auction held on February 22, 2023. In the first two rounds, nearly 13 lakh tonnes of wheat have been sold under the Open Market Sale Scheme (OMSS) to bulk users as part of steps to cool down retail prices of the foodgrain and wheat flour. The next weekly e-auction will be held on March 1.
Wheat is being offloaded under the OMSS to cool down the retail prices of wheat and wheat flour (atta). To further soften the retail wheat prices, the government recently reduced the reserve price of FCI wheat offered to bulk users and also announced the sale of an additional 20 lakh tonnes of wheat in the open market.
After the announcement of the OMSS policy, the food ministry has said that prices of wheat and atta have come down but still inflation figure for January 2023 was at a three-month high of 6.52 per cent. As per the government data, the average price of wheat across major cities stood at Rs 33.09 per kg on Wednesday, while the average price of atta (wheat flour) stood at Rs 38.75 per kg.
Wheat production is estimated to rise at 112.18 million tonnes in the current 2022-23 crop year on higher acreage and better yield. However, the rise in temperature during this month in key producing states has again become a concern for the farm scientist and policymakers.
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