Wheat bids were low in FCI's fourth tender

27-Dec-2024 10:29 AM

Wheat bids were low in FCI's fourth tender
The Food Corporation of India (FCI) held its fourth wheat tender on December 26, 2024, and several noteworthy trends emerged:
Allocation Changes: FCI adjusted the allocation of wheat across states while maintaining the total sale quantity at 100,000 tonnes.
Bid Price Trends: Bids in this tender were lower by 475 rupees per quintal compared to the highest price in the tender held on December 18, 2024.
Regional Differences: Uttar Pradesh received the highest bid, which was 3 rupees per quintal higher than in the previous tender.
Declines in Bids: Bids in most other states saw significant declines, with Assam's bid falling by 71 rupees per quintal and Telangana's bid dropping by 475 rupees per quintal.
State-Level Declines: Punjab's bid dropped by 150 rupees, West Bengal by 154 rupees, Bihar by 169 rupees, and Chhattisgarh by 300 rupees per quintal.
Sale Quantity: A total of 99,465 tonnes were sold out of the 100,000 tonnes offered in this tender.
Bid Acceptance: Overall, more than 95% of the bids were successful. Among the 23 states, 14 states lifted 100% of their allocated wheat, 2 states lifted 99%, and the North East division lifted 92%.
These results reflect the fluctuating market conditions and highlight regional differences in demand and pricing.