Govt to sell 2.5 MT of FCI wheat under OMSS till Mar 2025 to check prices

Quick Summary:

The government on Thursday announced the sale of 25 lakh tonne of FCI wheat till March 2025 to bulk domestic consumers to check the "inflationary trend in the food economy".

Wheat will be sold under the government's Open Market Sale Scheme (OMSS) initiative, managed by the state-owned Food Corporation of India (FCI) to regulate the supply and prices.

The nodal Food Ministry, in a statement, said a reserve price for wheat under OMSS is fixed at Rs 2,325 per quintal for fair and average quality (FAQ) grain and Rs 2,300 per quintal for URS (Under Reduced Specifications) grain.

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Category: BusinessFinance

Markets: India

Topics: FCI Govt OMSS Wheat Commodities Prices

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-28 @ 20:02:06 (4 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 231 words

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Copyright Owner: © Business Standard

News ID: 23922046

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