FCI to launch rice and wheat into open market to stabilise costs

The Meals Company of India (FCI), regional workplace, Amaravati, is providing 4,000 tonnes of wheat and 13,018 tonnes of rice beneath Open Market Sale Scheme-Home (OMSS-D) via e-auction to be held on August 30 (Wednesday).

As on date, 7,69,609 tonnes of rice and 12,125 tonnes of wheat is offered with FCI, Andhra Pradesh. Chandrasekhar Joshi, common supervisor, FCI, Andhra Pradesh area, instructed The Hindu on Saturday that along with the above, 7,96,000 tonnes of rice is offered with the State authorities beneath the Central Pool.

He mentioned that as a way to take part within the e-auction, the Earnest Cash Deposit (EMD) quantity must be credited electronically in favour of GM, FCI, regional workplace, Amaravati, by 6 p.m. on Monday (August 28).

Now onwards, for wheat in opposition to one PAN, a purchaser can bid solely 100 tonnes of wheat all through the nation, offered the client has legitimate GST registration in that specific State and legitimate FSSAI licence as on the date of publishing the tender, he clarified.

Mr. Chandrasekhar additional defined that flour millers, wheat grinders and producers of wheat merchandise might contact M-Junction at www.valuejunction.in/fci for additional registration and participation within the e-auction. All profitable bidders should course of the wheat into merchandise and launch into marketplace for sale inside thirty days from the final date of lifting.

As for rice, a purchaser can bid 1,000 tonnes. Now onwards, the reserve value for fortified rice kernels (FRK) is ₹2,973 a quintal and for non-FRK rice, the reserve value is ₹2,900 a quintal. 

The Authorities of India has determined to launch wheat and rice into the open market via OMSS-D to stabilise the retail costs of wheat, atta and rice all through the nation. To test the growing value pattern of rice and wheat, it was determined to dump 25 LMT (lakh metric tonnes) of rice and 50 LMT of wheat beneath OMSS-D. Accordingly, two LMT of wheat might be provided within the weekly e-auctions by FCI, he defined.

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