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

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.

Wheat will be sold until March 31, 2025, through e-auction to private parties, including flour mills, manufacturers of wheat products, processors and end users.

However, the government did not reveal the date of commencement of the FCI wheat sale to bulk users.

Last year, FCI sold more than 10 lakh tonne of wheat to bulk users under the OMSS.