Centre wants to dump 2.5 million tonnes of wheat in open market to bring down prices

New Delhi.In order to moderate wheat prices in the open market, the Central Government has decided to auction wheat under the Open Market Sales Scheme (Domestic) [OMSS (D)].

The Government has fixed the floor price of mid-range and common wheat at Rs 2,325 per quintal and loose specification wheat at Rs 2,300 per quintal till March 31, 2025, for sale to private individuals through e-auction.

The Central Government has decided that the Food Corporation of India (FCI) will sell 2.5 million tonnes of wheat in the open market under OMSS (D) through e-auction to flour mills, flour millers, processors and end consumers of wheat products at a moderate price.
The average retail market price of wheat is between Rs 3,000 and Rs 4,000. However, the floor price of wheat is Rs 2,425.

The government expects wheat production to reach a record 1,132.92 LMT in 2023-24, an increase of 27.38 LMT over the previous year’s production.