Tuesday, 16 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 under the 13th auction of foodgrains. As per the information provided by the FCI, this offer started on January 12 and will continue till January 24 under Open Market Sale Scheme Domestic (OMSS D).
The main objective of these auctions is to arrest the spike in the foodgrain prices promptly. 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.
