NEW DELHI: Only 5.39 Lakh Metric Tonnes (LMT) of wheat was sold in the fifth e-auction by the Food Corporation of India (FCI). A total of 11.88 LMT of wheat was offered from 657 depots across 23 regions of FCI.
This auction was held to control the price of wheat and wheat flour. In the fifth e-auction, against the all-India weighted average reserve price of Rs 2,140.28 per quintal, the weighted average selling price received was Rs 2,197.91 per quintal. The next e-auction will be conducted on March 15.
Quantities ranging from 100 to 499 MT had maximum demand followed by quantities of 500-999 MT. “The overall price received during the auctions suggests that the market has cooled down and is below Rs 2,200 per quintal on average,” said the Ministry of Consumer Affairs, Food and Public Distribution. Until the fourth e-auction, 23.47 LMT wheat stock had been sold against which 19.51 LMT has been lifted. After the fifth e-auction, the cumulative sale of wheat under Open Market Sale Scheme (Domestic) has touched 28.86 LMT against the overall allocation of 45 LMT.