71.01 LMT Wheat and 1.62 LMT Rice sold under Open Market Sale Scheme (Domestic) through e-auctions
In order to increase the availability of wheat and rice in the open market and to control the prices of wheat and rice, the Government of India has been offloading wheat and rice in the market through weekly e-auction from 28.06.2023. A total of 101.5 LMT wheat and 25 LMT rice has been allocated by the Government of India for offloading under Open Market Sale Scheme (Domestic) [OMSS(D)]. Wheat is being offered at reserve price of Rs. 2150/Qtl for FAQ and Rs. 2125/Qtl for URS. The reserve price of rice is being kept at Rs. 2900/Qtl.
The first e-auction of this current phase was held on 28.06.2023 wherein 0.86 LMT wheat was sold in the open market. However, to increase the availability of wheat and to cater to the demand of wheat in the open market, the weekly offering of wheat in the e-auction is being gradually increased from initial 2 LMT to the present weekly offering of 4.5 LMT. As a result, the weekly sale of wheat has increased to more than 4 LMT. Till 24.01.2024, 71.01 LMT wheat has been sold under OMSS(D).
Month-wise sale of wheat under OMSS (D) is as under:
The first e-auction of rice under OMSS(D) for 2023-24 was held on 5th July 2023. In order to increase the sale of rice in the open market, GoI reduced the Reserve Price of rice from Rs. 3100/ Qtl to Rs. 2900/Qtl. and the minimum and maximum quantity of rice was revised to 1 MT and 2000 MT respectively.
In addition to this, regular advertisement was done by the FCI regional offices for wider outreach and as a result, the sale of rice gradually increased. Till 24.01.2024, 1.62 LMT rice has been sold in the open market which is the highest sale in any year under OMSS (D) i.r.o. rice to private traders. The previous highest was 42000 MT.
The Central Government is also providing wheat to cooperative agencies like NAFED/NCCF/Kendriya Bhandar/MSCMFL under Bharat Atta scheme. 4 LMT has been allocated by GOI under this scheme from the total 101.5 LMT of OMSS(D). Under this subset of OMSS (D) scheme, Semi-government/Cooperative agencies are getting wheat at Rs. 21.50/Kg which has been revised to Rs. 17.15/ kg w.e.f. 16.12.2023 for converting to atta and selling to general public at no more than Rs. 27.50/Kg. Till 29.01.24, 2,80,456 MT wheat has been sold to these agencies.
The Government of India remains committed to ensuring food security, stabilizing prices, and supporting both consumers and stakeholders through these strategic interventions.