Posted 1/17/2024, 9:00:00 PM
FCI Sells Over 6 Million Tonnes of Wheat So Far This Year, Aims for 10 Million By March to Stabilize Prices
- FCI has sold 6.67 million tonnes (MT) of wheat in the open market this fiscal year till Wednesday, aiming to sell 10.1 MT total by early March
- FCI sold a record 0.42 MT of wheat in the weekly e-auction on Wednesday as the government increased the weekly allocation to 0.45 MT
- Wheat prices have stabilized due to the open market sales, with retail prices around Rs 28/kg, same as last year
- 0.4 MT of wheat allocated to cooperatives to make 'Bharat Atta' flour sold at subsidized rate of Rs 27.5/kg
- Food ministry considering selling subsidized rice through Bharat Rice initiative via retail outlets