Over 1,150 bidders participated in 1st week of e-auction of wheat by FCI

Over 1,150 bidders participated in the first week of e-auction of wheat and a quantity of 9.2 lakh metric tonnes was sold across the country by Food Corporation of India (FCI).

In the first week of e-auction, quantities ranging from of 100 to 499 million tonnes attracted maximum demand.

After this, the demand was for quantities of 500-1,000 million tonnes, followed by that of 50-100 million tonnes, thus indicating that small and medium flour millers and traders actively participated in the auction.

Only 27 bids were received for the maximum quantity of 3,000 million tonnes.

Sale of wheat through e-auction will continue throughout the country on every Wednesday till the second week of March 2023.

In order to address the issue of rising price of wheat and atta in the country, the committee of ministers led by Union Home Minister Amit Shah had suggested sale of wheat through e-auction.

Subsequent, the FCI has offered 22 lakh metric tonnes of wheat out of 25 lakh metric tonnes under e-auction.

--IANS

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