The Food Corporation of India (FCI) offered 22 lakh metric tonnes of wheat for sale on the open market in its maiden e-auction, which took place in Rajasthan on Wednesday.
More than 1,100 bidders registered to participate in the e-auction, according to official authorities. On the first day of the auction, 8.88 lakh metric tonnes of wheat were sold in 22 states.
The nationwide wheat sales via e-auction will continue every Wednesday through the second week of March. For the purpose of converting wheat into atta, the Center has set aside 3 lakh metric tonnes of wheat for cooperatives and federations like Kendriya Bhandar, NCCF, and NAFED for sale without an e-auction at a discounted price of Rs 2,350 per quintal.
This would be later sold to the general public for Rs 29.50 per kg of MRP. Under the aforementioned programme, NCCF has been given permission to transport 50,000 metric tonnes of wheat stock throughout seven states.
Under this programme, Kendriya Bhandar and NAFED each receive an allocation of 1 lakh metric tonnes of wheat in an effort to lower the price of atta throughout the nation. The government had last month declared that it will sell 30 lakh metric tonnes of the necessary commodity in the open market within two months through a variety of channels, allowing for quicker supply to consumers and curbing soaring wheat prices.
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