Page 2 - Fci

FCI sells 100,000 tn wheat, 100 tn rice in 5th e-auction to control price

State-owned Food Corporation of India (FCI) on Wednesday sold 1.06 lakh tonnes of wheat and 100 tonnes of rice in the 5th e-auction of 2023-24. In order to control the retail price of rice, wheat and atta, the FCI organises weekly e-auctions. The government is committed towards price stabilization and its market intervention is aimed at providing relief to the consumers, the food ministry said in a release. "A quantity of 1.16 lakh tonne wheat from 361 depots and 1.46 lakh tonne rice from 178 depots were offered from across the country," it said. The weighted average selling price was Rs. 2182.68/qtl for fair average quality (FAQ) wheat against the reserve price of Rs. 2150/qtl Pan India whereas weighted average selling price of URS wheat was Rs. 2173.85/qtl against the reserve price of Rs. 2125/qtl. The weighted average selling price was Rs. 3151.10/qtl for rice against the reserve price of Rs. 3151.10/qtl Pan India. In the current tranche of e-auctions, the reduction in retail

FCI sells 1.3 mn tn rice for ethanol production till July 10 in 2022-23

State-owned FCI has sold 13.05 lakh tonnes of rice for conversion into ethanol till July 10 in the current marketing year ending November and has earned a revenue of Rs 2,610 crore, the government said on Wednesday. "Supply of surplus stock of rice from central pool by FCI for conversion into ethanol was started in the year 2020-21," Minister of State for Food and Consumer Affairs Sadhvi Niranjan Jyoti said in a written reply to Lok Sabha. According to the data furnished in the reply, the revenue generated by FCI by selling surplus rice for production of ethanol stood at Rs 98 crore in 2020-21, 2136 crore in 2021-22 and Rs 2610 crore till July 10 in 2022-23 ethanol supply year (December-November). The lifting of rice stood at 0.49 lakh tonnes in 2020-21, 10.68 lakh tonnes in 2021-22 and 13.05 lakh tonnes till July 10 in 2022-23 supply year. The government has been implementing Ethanol Blended Petrol (EBP) Programme wherein oil marketing companies (OMCs) sell petrol blended with ...

Ethanol distilleries rework output plans as FCI halts rice supply

Gulshan Polyols informed the stock exchange that production at its 500 kiloliters per day grain-based ethanol manufacturing plant in Chhindwara district of MP would be disrupted for a few days

Top headlines: Demerger of ITC's hotels biz, share transactions, and more

Business Standard brings you the top headlines at this hour

After denying rice to Karnataka, FCI struggles to find bidders in e-auction

Only private entities were eligible to participate in the auction

FCI to sell 4.29 lakh tonne wheat, 3.95 lakh tonne rice in 3rd e-auction

State-owned Food Corporation of India (FCI) will sell 4.29 lakh tonnes of wheat and 3.95 lakh tonnes of rice from the buffer stock to bulk consumers in the third round of e-auction to be held on July 12. The government is offloading wheat and rice from the FCI stock under the Open Market Sale Scheme (OMSS) to bulk consumers to improve the domestic supply and control the retail price of rice, wheat and atta. In the third round of e-auction, the FCI will offer a quantity of 4.29 lakh tonnes of wheat from 482 depots and 3.95 lakh tonnes of rice from 254 depots from across the country, the food ministry said in a statement. FCI has come out with tenders in this regard. Interested parties may empanel themselves for participation in future e-auctions, it said. The FCI is encouraging more small and marginal end users to participate in the weekly e-auctions so that the stocks reach a wider section of the society, it added. In the previous e-auction conducted on July 5, a total quantity of

Expenditure on social sector: Turning social safety nets into trampolines

A look back at welfare spending is the first step to understanding Covid impact absorption and darning holes, if any, in the welfare fabric

Rice war intensifies in Karnataka, Cong posts letter of commitment by FCI

The development is being seen as a setback to BJP, which had decided to take up protest from July 1 regarding the matter

Food Corporation of India to conclude recruitment process of 5,159 posts

State-owned Food Corporation of India (FCI) will soon conclude the recruitment process of 5,159 posts of category II and III that were advertised last year. In an official statement, the food ministry said that the FCI "has been one of the leading recruiters in recent years, recruiting a large number of youth every year." The recruitment process of FCI is conducted only through an online mode of examination and is widely advertised in the Employment News as well as leading national/local newspapers. The selection is done through open competition and is on a purely merit basis. "Posts under various categories (Category I, II, III, and IV) are being regularly advertised. FCI has successfully recruited 3,687 Category III officials during the year 2020, 307 Category II and 87 Category I officers during the year 2021," the statement said. FCI advertised 5,159 posts of Category II & III in the year 2022. "11.70 lakh candidates have participated in the recruitment process. The online ..

Wheat export ban to continue as govt falls short on procurement targets

The ban was first introduced in May last year because of a decline in wheat production in the country

Braithwaite revenue up 36.5% to Rs 1043 cr, eyes PDS foodgrain movement biz

State-run Braithwaite & Co Ltd achieved a 36 per cent revenue growth to Rs 1,043 crore in FY'23 and is eyeing the Food Corporation of India's foodgrain movement business to give impetus to its services vertical, a top official said. The company attained a revenue of Rs 764 crore in FY'22. Braithwaite aims at listing the company by 2025-26, with an expected revenue of Rs 2500 crore. "We are vying for the lucrative Food Corporation of India containerised foodgrain movement business on a turnkey basis to further augment our revenue," said Chairman and Managing Director Yatish Kumar. The company is in the process of finalising new designs for containers to carry foodgrains, to reduce wastage. FCI will derive a cost-benefit of 5-6 per cent as a result of the new design. "This is expected to generate additional revenue of at least Rs 300-400 crore annually," Kumar told PTI. Set up in 1913, Braithwaite became a PSU in 1976. Braithwaite Ltd which at one time had been earmarked for ...

Chhattisgarh govt deposits 2.84 million tonnes of rice in central pool

The Food Corporation of India (FCI) has set a target of purchasing 5.86 mt of rice from the state for the central pool

Wheat output in FY24 may decline by 1-2 mn tonnes due to untimely rains

FCI has procured 700,000 tonnes wheat so far, up from 200,000 tonnes last year

Marginal impact of untimely rains on wheat crop, say top officials

FCI says on track to achieve FY24 procurement target; no lifting of export ban

Unseasonal rains: Punjab, Madhya Pradesh offer succor to affected farmers

FCI stops wheat sale through open market operations as procurement draws near

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

FCI sells 491,000 tonnes wheat for Rs 2214.32 per quintal in 6th e-auction

Till fifth e-auction, 28.86 LMT wheat stock has been sold against which 23.30 LMT has been lifted as on March 14, 2023

Beat the heat with grain storage, fire audits, says PM Narendra Modi

PM chairs review meeting ahead of summer months, tells IMD to prepare daily weather forecasts that are easy to interpret and disseminate

Holi sweets to taste even sweeter as atta, maida, sooji rates soften 10-14%

Wheat prices have slumped from their record high of about Rs 3,200 per quintal in mid-January to about Rs 2,200 a quintal

FCI sells 540,000 tonnes of wheat under OMSS in 4th round of auction

State-run Food Corporation of India (FCI) sold 5.40 lakh tonnes of wheat to bulk consumers like flour millers in the fourth round of e-auction held on Wednesday. In the previous three rounds, about 18.05 lakh tonnes of wheat was sold under the Open Market Sale Scheme (OMSS) to bulk users as part of steps to cool down retail prices of the foodgrain and wheat flour. The next weekly e-auction will be held on March 8. "Total quantity of 11.57 lakh tonne wheat was offered and 5.40 lakh tonne wheat has been sold to 1,049 bidders in 23 states," an official statement said. Wheat was sold at an all-India weighted average reserve price of Rs 2,137.04 per quintal during the 4th auction. Maximum demand was for wheat quantities in the range of 100 to 499 tonnes, it added "The overall price quoted during the auctions suggests that the market has cooled down and is below Rs 2,200 per quintal on average," the statement noted Till February-end, about 14.35 lakh tonne wheat was lifted by bidders.