How wheat prices moved after FCI began liquidating stocks via open tenders

Millers see CPI inflation for atta reducing more sharply going ahead, as prices have already started softening at the mill gate

Flour millers are of the view that consumer price inflation for wheat flour (atta) will reduce more sharply in the next month and a half, as prices have already started softening at the mill gate.

So far, the Food Corporation of India (FCI) has liquidated about 3.38 million tonnes of wheat from its inventories in six tenders, to cool down prices. In 2019-20, the last normal year before the pandemic, FCI had sold 3.63 million tonnes of wheat from its holdings. In 2021-22, it had liquidated 7.03 million tonnes through an open market sale scheme.

This year, the