The Food Corporation of India, Regional Office will sell wheat in the open market through the Open Market Sale Scheme every week for price stabilisation in the market.
A press statement said the weekly quantity of wheat to be auctioned has been enhanced from 2 Lakh MT to 3 Lakh MT per week. The base rate for URS wheat is Rs. 2125 per quintal and FAQ wheat at Rs. 2150.
The FCI also said to encourage the bidders, the maximum bidding quantity has been enhanced from 100 MT to 200 MT per bidder and the minimum quantity is 10 MT.
FCI, RO NEF Region for the States of Meghalaya, Mizoram and Tripura began the sale to its empanelled (registered) buyers from June 28. Tenders are uploaded every Friday in MJUNCTION Portal followed by auction on successive Wednesday.
The FCI informed that a total of 18600 MT of wheat was offered and 8600 MT was sold from different depots under NEF Region. For the upcoming e-auction on November 1, a quantity of 1200 MT wheat will be offered which is 150 per cent of the previous offered quantity, the statement added.
