Tuesday, 23 January 2024 | PNS | DEHRADUN
The Food Corporation of India (FCI), Uttarakhand claimed to be offering 12,500 MT of wheat with a base price of Rs 2,125/quintal for Under Relaxed Specifications (URS) and Rs 2,150/quintal for Fair and Average Quality (FAQ) from nine locations for sale in the 31st auction of foodgrains under Open Market Sale Scheme Domestic (OMSS D) from January 19.
The main objective of these auctions, as per the FCI officers, is to arrest the spike in the foodgrain prices promptly. The maximum quantity of wheat a bidder/firm can bid for has been linked with the LT/HT connection of the firm participating in the bidding. Further, while the processing units with LT power connection can bid for a minimum quantity of 10 MT and maximum of up to 50 MT per auction, the processing unit with HT connection can bid for a maximum of 300 MT per auction.
