Days after the government decided to offload wheat from the central pool in the open market to bring down rising prices, the Union Food Ministry on Thursday said that the Food Corporation of India has sold a quantity of 8.88 lakh metric tonnes (LMT) in the first e-auction.

In a statement, the ministry said, “Food Corporation of India offered 22.0 LMT out of 25 LMT Wheat stock earmarked for e-auction wheat from the central pool stock to the market through various routes under the Open Market Sale Scheme (Domestic) in the first e-auction on 1st February 2023. More than 1,100 bidders came forward for participation in the first e-auction. A quantity of 8.88 LMT was sold in the first day of e-auction in 22 states. In Rajasthan, bidding would be conducted on 02.02.2023.”

The further sale of wheat through e-auction will continue throughout the country every Wednesday till the second week of March 2023, the statement added.

The statement further said, “Govt. of India has reserved 3 LMT wheat to Govt. PSUs/cooperatives/federations like Kendriya Bhandar, NCCF and NAFED for sale without e-auction at the concessional rate of Rs 2,350/Qtls for converting wheat to atta and offer it to public at a maximum retail price of Rs 29.50 per kg. NCCF has been allowed to lift 50,000 MT of wheat stock under the above scheme across 7 states. Allotment of 1 LMT wheat is made to NAFED and 1 LMT wheat made to Kendriya Bhandar under this scheme to bring down the price of atta across the country.”

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“Offloading of 30 LMT wheat in the market through OMSS (D) scheme within a span of two months through multiple channels will have wider reach as well as immediate impact on the soaring wheat and atta prices and will help containing the rising prices and will bring much relief to the common man,” the statement said.

Last week, the government had decided to offload 30 lakh metric tonnes of wheat from the central pool stock to the market under the Open Market Sale Scheme (Domestic) to check the rising prices.

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The move came after the meeting of a Group of Ministers headed by Home Minister Amit Shah, which met earlier in the day to address the rising price of wheat and atta and discussed the buffer stock position of the country. Atta or wheat flour prices have increased by 20 per cent as compared to the level a year ago.