Food Corporation of India (FCI)’s Regional Offices are going to upload tenders today for 25 lakh MT of wheat that will be offered for sale starting next week (1st February 2023) under OMSS (D).
Interested buyers can register themselves with FCI’s e-auction service provider “M-Junction Services Limited” (https://www.valuejunction.in/fci/) and bid on wheat stocks. Any party who wants to register their name will be able to do so within 72 hours.
A variety of stocks are offered from all states of the country to ensure that rising prices are immediately controlled.
To address the rising price of wheat and Atta in the country, it was decided that FCI would make available 30 LMT wheat in the market through various routes under the Open Market Sale Scheme (Domestic). FCI has started the process of e-auctioning stocks within 24 hours of the announcement of this scheme, throughout the country.
By offloading 30 LMT of wheat across multiple channels within a span of two months, the OMSS (D) scheme will have a wider reach and an immediate impact on soaring wheat and atta prices. It will bring relief to the common man as well as contain the rising prices of wheat and atta.
FCI moves food grains throughout the country to intervene in the market for price stabilization.
Since its inception in 1965, FCI has made a significant contribution to realizing the dream of making India a self-sufficient country in food. Today it procures around 1300 LMT of food grains (wheat and paddy) annually against a mere 13 LMT procured during 1965.
It would be worth mentioning here that the procurement of food grains is not evenly spread across the country. While production in some states is highly surplus in terms of their requirements, others are deficit either partially or fully. To make foodgrains available to the most vulnerable sections of society, FCI moves foodgrains on a massive scale throughout the country. Around 600 LMT of foodgrains are moved annually to various corners of the country from major procuring states like Punjab, Haryana, Andhra Pradesh, Telangana, Chhattisgarh, Odisha, etc.
To facilitate the storage and movement of food grains, FCI operates around 2000 depots including about 500 of its own depots throughout the country. In terms of infrastructure, it has enhanced its storage capacity from 6 LMT in 1965 to more than 800 Lakh MT at present.
**News Source: PIB India**Tags: Food Corporation of India, Observer voice PIB, PIB INDIA