A large number of buyers bid for wheat at a higher price in this week’s Food Corporation of India (FCI) open market sales scheme (OMSS) auctions, designed to check prices of rice and wheat in the open market.
This comes amid tightening of supplies and also the maximum quantity that can be lifted. Except Haryana, the average selling price of wheat in the weekly auction held on October 28 was higher in most of the States compared with the previous week.
The government had reduced the overall wheat allocation for sales in the weekly auction held on October 28, by 5,000 tonnes to 1.01 lakh tonnes (lt) from the previous tender, even as processors and millers scrambled to buy the grain at over ₹3,100/quintal in many States when the all-India average wholesale price was ruled ₹2,910/quintal.
