Posted on July, 11, 2024 at 09:50 am
Govt has decided to resume sale of wheat in the open market from Aug to keep prices from surging and is likely to take a decision on lifting the ban on export of certain varieties of non-basmati rice in response to demands made by exporters.
Paving the way for sale of FCI's wheat stock, the food ministry has fixed the minimum sale price of Rs 2,325/quintal for private bulk buyers like millers, which is lower than the prevailing market price of Rs 2,400/quintal.
Similarly, the minimum sale price for rice to bulk buyers has been fixed at Rs 2,800/quintal. These prices exclude transportation charge from FCI depots.
In an official communication, the ministry has said that the quantity of grain stocks to be offloaded will be decided by FCI in consultation with the ministry after keeping the stock allocated for the PDS, buffer norms and additional quantity of 20 lakh tonnes.
Currently, FCI has 289 lakh tonned of wheat stock.
Source: The India Times