Govt directs FCI to conduct e-auction of wheat & rice to check increase in retail prices

New Delhi: The Government has directed the Food Corporation of India (FCI) to conduct an e-auction of wheat and rice to check inflationary trends in retail prices. Addressing media in New Delhi, Chairman and Managing Director, FCI, Ashok Meena said, the base price of fair and average quality wheat has been kept at two thousand 150 rupees per quintal and two thousand 125 rupees per quintal for wheat under relaxed specifications. 

He said, in order to control hoarding of wheat, the government has decided that the declaration in the Wheat Stock Monitoring



System portal is mandatory for participation in the auctions. In addition to this, to identify the genuine processors and traders, the valid FSSAI License has also been made mandatory for participation.

 

E-auction for rice under Open Market Sale Scheme (Domestic) will commence from the 5th of July. The base price of rice is three thousand 100 rupees per quintal.

Six weekly e-auctions of wheat were conducted by the Food Corporation of India till the 15th of March this year.