Govt to sell wheat in open market via e-trading platform

The government has now decided to go for electronic trading of wheat for bulk consumers like flour millers to boost sales of the grain in the open market.

Considering the poor response for tenders, with majority of the allotted 5,00,000 tonnes of wheat for October-December period is still unsold, the Centre is trying to push the grain sales via the online platform to begin with in Delhi, Haryana, Andhra Pradesh and Karnataka.

"The mode of selling has been changed, while all other conditions remain same," a senior government official said, adding that FCI was selling wheat through tender under open market sale scheme (OMSS).

Food Corporation of India (FCI) has roped in the National Spot Exchange, promoted by commodity bourse MCX, and NCDEX Spot exchange for selling the allotted 5,00,000 tonnes of wheat to bulk consumers, the official said.

FCI is the government's nodal agency for procurement and distribution of foodgrains in the country.      When contacted, NSEL Managing Director and CEO Anjani Sinha said the exchange has received nod for launching online sales of wheat in Delhi and Andhra Pradesh and the FCI wheat contracts would be launched on December 15.

NCDEX Spot Exchange Head Rajesh Kumar Sinha said, "We have got approval to launch wheat on e-platform in Haryana and Karnataka. We are ready with all facilities and we will start within a week after we receive a formal reply from the FCI."