New Delhi: The Union government has decided to sell 30 lakh tonnes of wheat in the open market from its buffer stock. The food ministry will offload 30 lakh tonnes of wheat under the Open Market Sale Scheme (OMSS).Wheat stocks will be sold to flour millers and traders among others. The decision was taken to control the rising prices of wheat and wheat flour (atta).
Under the OMSS policy, the Union government allows state-run Food Corporation of India (FCI) to sell food grains, especially wheat and rice, at pre-determined prices in the open market from time to time to bulk consumers and private traders.
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Earlier in May last year, the Union government had banned wheat exports in to control prices after a slight fall in the domestic production and a sharp decline in the FCI’s procurement for the central pool. India’s wheat production fell to 106.84 million tonnes in the 2021-22 crop year (July-June) from 109.59 million tonnes in the previous year. The procurement fell sharply to 19 million tonnes this year from around 43 million tonnes last year.
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