CCEA likely to discuss tomorrow 10 mn tons open mkt wheat sale

To check price rise, the Cabinet Committee on Economic Affairs (CCEA) is likely to discuss tomorrow a proposal to sell 10 million tonnes of wheat from FCI stocks in the open market.
"The CCEA meeting is scheduled for tomorrow. The Food Ministry's proposal to sell about 10 million tonnes of wheat through the Open Market Sale Scheme (OMSS) to bulk buyers is on the agenda of the meeting," sources said.
The ministry has proposed sale of wheat under OMSS at the minimum support price plus freight charges to destinations.
The proposed wheat sale programme aims to boost domestic supply and check price rise. This move would also help in reducing storage pressure on the Food Corporation of India (FCI), sources added.

Wheat prices have firmed up in the last few days. Wholesale price of wheat has increased to Rs 19 per kg in the national market today, from Rs 16.10 per kg in the same period last year, as per the official data.
As on July 1, the FCI had a wheat stock of 40 million tonnes, against the requirement of about 20 million tonnes.
The country had produced a record 95.60 million tonnes of wheat in the 2013-14 crop year.