With an aim to control the retail price of rice, wheat and atta, the government organized weekly e-auctions of both wheat and rice as a part of its initiative for market intervention. During the 15th e-auction under Open Market Sale Scheme (Domestic) (OMSS[D]) held on October 04, 2023, a total 1.89 lakh metric tonnes (LMT) Wheat and 0.05 LMT rice was sold to 2255 bidders. A quantity of 2.01 LMT wheat from 481 depots and 4.87 LMT rice from 264 depots were offered from across the country. In the e-auction, 2447 empaneled buyers participated for both wheat and rice.
The weighted average selling price was Rs 2185.05/qtl for Fair and Average Quality (FAQ) wheat against the reserve price of Rs 2150/qtl Pan India whereas weighted average selling price of URS (under relaxed specifications) 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.
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