Flour Price In India: On the one hand, the common man has heaved a sigh of relief due to the news of the price of rice. At the same time, in the next few days, the effect of recession can be seen on the prices of rice in the country. The central government has taken big steps to reduce the price of rice. In fact, an increase in the prices of wheat was recorded in the country in the last few months. The central government had also come under tension due to the increased prices. In such a situation, keeping wheat prices under control was a challenging task for the central government. Now an exercise has been done regarding the same from the level of the central government.
FCI will launch 30 lakh tonnes of wheat in the market
The main reason behind the increase in the prices of wheat in the country is that the stock of wheat in the market has reached a very low level and the demand remained the same. The effect of difference in demand and supply was seen on its prices. When the price of flour increased, the pressure on the central government to reduce its price increased. Now the effect of the same pressure is being seen in the market of wheat and flour. For this reason, FCI announced a plan to sell 30 lakh tonnes of wheat from its buffer stock in the open market under the Open Market Sale Scheme (OMSS).
Auction will start from 1st February
FCI has given a statement that weekly e-auction will be started from February 1 with a reserve price of Rs 2,350 per quintal plus transportation cost. Under this scheme, about 25 lakh tonnes of wheat will be sold to the bulk consumers. This will put a check on reducing the rising prices of wheat and flour in the country.
The price of flour may decrease in 10 days
After the FCI’s statement came out, there has been an impact on the prices of wheat in the Delhi market. Its price has registered a decline of 6 to 9 percent. According to media reports, FCI has issued tenders to sell wheat. Experts say that whatever plan has been prepared to unload wheat. Its effect will be seen in the market in the next 10 days. There is every expectation of a fall in the prices of flour. Traders say that the tendering process will end and when wheat reaches the market, the prices of wheat will automatically fall.
Will not be able to sell more than Rs 29.50 per kg
Guidelines for selling wheat in the retail market have also been fixed by the central government. Wheat will be given in the states at very cheap rates. It will not be allowed to be sold at more than Rs 29.50 per kg. At the same time, out of 30 lakh tonnes, FCI will sell 25 lakh tonnes of wheat to bulk consumers like flour mills through e-auction. This is bound to have a direct impact on the prices of flour.
Auction will run till March 15
The date for the auction to sell wheat has also been fixed. The first auction will be held on February 1. This process will continue till March 15. Wheat will be sold with a reserve price of Rs 2,350 per quintal plus freight charges. A buyer will be able to bid for a maximum quantity of 3,000 tonnes and a minimum of 10 tonnes. With this, every class of trader will get an opportunity to buy wheat.
Disclaimer: Some of the information given in the news is based on media reports. Farmer brothers, before implementing any suggestion, do consult the concerned expert.
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