The highest auction price of government wheat fell by up to Rs 475 per quintal.
27-Dec-2024 05:21 PM
On December 26, during the weekly e-auction held by the Food Corporation of India (FCI) under the Open Market Sale Scheme (OMSS), the highest auction price of government wheat fell by as much as Rs 475 per quintal compared to the previous auction held on December 18. Despite this drop in prices, the total quantity of wheat available for sale remained the same at one lakh tonne nationally. However, there were adjustments in the wheat allocation across various states.
In some states, the offer was increased, while in others, it was reduced. For instance:
- Wheat offers were increased by 500 tonnes in Odisha, 700 tonnes in Telangana, 1,000 tonnes each in Chhattisgarh and Uttar Pradesh, 1,500 tonnes in Assam, and 2,000 tonnes each in Bihar, Punjab, and West Bengal, totaling an increase of 10,700 tonnes.
- At the same time, the allotted quantity was reduced in Delhi, Gujarat, Madhya Pradesh, Maharashtra, Haryana, Jammu and Kashmir, Kerala, Tamil Nadu, Uttarakhand, Himachal Pradesh, Andhra Pradesh, and the North Eastern states.
The price changes across states reflected these adjustments:
- The highest price of wheat in Uttar Pradesh rose by Rs 3 per quintal compared to the last auction.
- In contrast, the highest selling price of wheat declined in states where the offered quantity was increased. For instance, in Telangana, the price dropped by Rs 475 per quintal, while other states like Assam saw a reduction of Rs 71 per quintal, Punjab’s price fell by Rs 150, and West Bengal and Bihar saw declines of Rs 154 and Rs 169 per quintal, respectively.
- On the other hand, in states where the wheat allotment was reduced, the highest purchase price increased by Rs 20 to Rs 99 per quintal.
Overall, a total of 99,465 tonnes of government wheat were sold during the December 26 auction.