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FCI to undertake open market sale for 2-3 MT wheat.
Jan 20, 2023

The Food Corporation of India (FCI) is likely to start open market sale of wheat this month to curb abnormally high prices of the cereal.
 
'The FCI will likely undertake open market sale of 2-3 million tonnes (MT) of wheat to bulk buyers such as flour millers by the end of January,' said a senior official, who did not wish to be identified.
 
Wheat prices in the Delhi market touched a record Rs 3,070 per quintal this week, said traders.
 
Till last year, the Centre used to sell excess wheat held by government agencies in the open market through tendering. It used to maintain continuous availability of the wheat in the market and also regulate prices during the lean season.
 
This year, however, the government’s wheat procurement fell to 18.79 million tonnes in the 2022-23 marketing year from 43.44 million tonnes due to a fall in domestic output and aggressive purchase by private parties. After having initially encouraged exports at the beginning of the 2022-23 wheat season, India had to ban the outbound shipments as a severe heat wave reduced the country’s production.
 
After clubbing the free ration scheme under the Pradhan Mantri Garib Kalyan Anna Yojana with the National Food Security Act, it will be left with wheat which can be allocated for the open market sale scheme.
 
The current stock of wheat with the FCI stands at 17.170 MT, down from 33.012 MT a year ago.
 
In the current season, area under wheat has increased to 33.7 million hectares from 33.2 million hectares last year, as per the data released by the agriculture ministry last week.
 
Wheat is a key rabi or winter crop and is mostly grown in Punjab, Haryana, Rajasthan, Uttar Pradesh and Rajasthan.
 
This year, farmers have used new seeds – such as such as DBW 187, DBW 303, DBW 222, DBW 327 and DBW 332 – which have better tolerance to heat and are high yielding.
 
    
economictimes.indiatimes.com

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