FCI to offer wheat at Rs 2,350 per quintal, Rs 300 less than base price

Commodity's prices reduce by Rs 450 a quintal after announcement of sale

The Food Corporation of India (FCI) will offer the entire 2.5 million tonnes (mt) of wheat meant for e-auction across India in one go at a base price of Rs 2,350 per quintal plus freight. The base price is aro­und Rs 300 less than the economic cost — which includes procurement, storage, and han­dling — senior officials said. The economic cost of wheat is estimated to be around Rs 2,654 per quintal.

“The first tender will be up for participation immediately and the auctions will be held every Wednesday, starting from the coming week. All states with FCI depots will