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5.07 LMT Wheat Auctioned In 3rd E-Auction Of FCI

Capital Market 

The third e-auction to offload wheat under Open Market Sale Scheme (Domestic) (OMSS-D),was held on 22.02.2023. Stocks were offered from 620 depots spread over 23 Regions of FCI across the country. Total quantity of 11.79 LMT was offered and 5.07 LMT of wheat has been auctioned.

Against the all India weighted average reserve price of Rs. 2138.12/Quintal, stocks were sold for an all India weighted average selling price of Rs 2172.08/Quintal.

The overall price trend suggest that the market has cooled down and is below Rs. 2200/Quintal on an average.

Thus, the offloading of wheat is showing the desired results of overall reduction in price of wheat. An amount of Rs. 1086.1 crores was realized during the third e-auction. The fourth e-auction would be held on 1st of March, 2023.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Fri, February 24 2023. 10:43 IST

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