To Control Wheat Prices in the Open Market, the Central Government to Conduct E-Auction

28-Nov-2024 07:31 PM

★ The Food Corporation of India (FCI) will release 25 lakh metric tons (LMT) of wheat for e-auction.  

★ This initiative, under the Open Market Sale Scheme (Domestic) 2024, aims to sell wheat via e-auction to flour mills, wheat product manufacturers, processors, and end-users, ensuring control over wheat prices in the open market. like earlier, traders will not be allowed to participate in this auction.  

★ Reserve Prices have been fixed as follows:  

FAQ Wheat: ₹2325 per quintal

URS Wheat: ₹2300 per quintal

★ These rates will be applicable for all crops, including RMS 2024-25, until 31st March 2025.