Govt cuts reserve price of FCI wheat to Rs 2,150/quintal
The government on Friday further reduced the reserve price of FCI wheat to Rs 2,150 per quintal for bulk consumers under the Open Market Sale Scheme (OMSS) in a bid to check prices
image for illustrative purpose
New Delhi: The government on Friday further reduced the reserve price of FCI wheat to Rs 2,150 per quintal for bulk consumers under the Open Market Sale Scheme (OMSS) in a bid to check prices.
According to the food ministry, the reserve price of fair and average quality (FAQ) wheat has been reduced to Rs 2,150 while for Under Relaxed Specifications (URS) wheat to Rs 2,125 per quintal. These rates will be applicable till March 31, the ministry said. State-run Food Corporation of India (FCI) is offloading 25 lakh tonnes of wheat to bulk users under the OMSS.
"Reduction in reserve price will help in reducing market price of wheat and wheat products for consumers," the ministry said. States are allowed to purchase wheat from FCI for their own scheme at above proposed reserve prices without participating in e-auction, it added. On February 10, the ministry had done away with freight charges and kept the reserve price of FCI wheat uniformly at Rs 2,350 per quintal to bulk users pan-India through e-auction.
It had also reduced the price of FCI wheat offered to institutions like Nafed, NCCF and Kendriya Bhandar to Rs 21.50 per kilogram from Rs 23.50 per kg. These institutions were offered wheat for converting the grain into flour and sell it at a maximum retail price of Rs 27.50 per kilogram instead of Rs 29.50 per kg.
