The Food Corporation of India (FCI) offered 22 lakh metric tonnes of wheat out of its 25 lakh metric tonnes stock for sale through open market in the first e-auction which took place on Wednesday.
Official sources said that more than 1,100 bidders came forward for participation in the e-auction.
A quantity of 8.88 lakh metric tonnes of wheat was sold on the first day of the auction in 22 states.
In Rajasthan, bidding would be conducted today, while further sale of wheat through e-auction will continue throughout the country on every Wednesday till the second week of March.
The Centre has reserved 3 lakh metric tonnes wheat to cooperatives and federations like Kendriya Bhandar, NCCF and NAFED for sale without e-auction at the concessional rate of Rs 2,350 per quintal for converting wheat to atta.
This would then be offered to public at a MRP of Rs 29.50 per kg.
NCCF has been allowed to lift 50,000 metric tonnes of wheat stock under the above scheme across seven states.
Allotment of 1 lakh metric tonnes of wheat is made to NAFED andA a similar quantity is given to Kendriya Bhandar under this scheme to bring down the price of atta across the country.
In order to rein in rising prices of wheat, government had last month announced that it would offload 30 lakh metric tonnes of the essential commodity in the open market within two months through multiple channels, which would facilitate faster delivery to consumers.
--IANS
ans/ksk/
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
You’ve hit your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories Online
Over 30 behind the paywall stories daily, handpicked by our editors for subscribers


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app