NEW DELHI: The Center announced on Tuesday the release of another 20 lakh tons of wheat from stocks held by Food Corporation of India in the open market for sale by electronic auction. This will come in addition to the ongoing sale of 30 lakh tonnes of wheat under the open market sales scheme.
In an official statement, the ministry of food he said that the reduction in the reserve price along with the additional unloading of 20 lakh tonnes of grain will collectively help reduce the market price of grain and grain products for consumers. He said, food secretary of the Union Sanjeev Chopra held a meeting with FCI and representatives of millers, associations and producers of atta and suji products on Tuesday to review the abolition of stocks auctioned by the FCI. He also advised the mills to lower the prices of atta and other products in line with the reduction in market prices for grain.
The ministry said that after the announcement of the open market sale, the prices of wheat and wheat fell.
In an official statement, the ministry of food he said that the reduction in the reserve price along with the additional unloading of 20 lakh tonnes of grain will collectively help reduce the market price of grain and grain products for consumers. He said, food secretary of the Union Sanjeev Chopra held a meeting with FCI and representatives of millers, associations and producers of atta and suji products on Tuesday to review the abolition of stocks auctioned by the FCI. He also advised the mills to lower the prices of atta and other products in line with the reduction in market prices for grain.
The ministry said that after the announcement of the open market sale, the prices of wheat and wheat fell.
