Source says FCI sold 95,450 tn of wheat in 5th open mkt sale of FY19

Food Corp of India sold 95,450 tn of wheat in the fifth round of auctions under the open market sales scheme for 2018-19 (Apr-Mar). The state-run agency had offered 2.2 mln tn of the food grain in the auction. Food Corp of India holds auction of wheat for sale under the open market sale scheme, where bulk buyers like flour mills, bakery product manufacturing companies usually purchase. In Punjab and Haryana, most of the quantity was sold at 1,900 rupees per 100 kg in. In Madhya Pradesh, it was sold at 1,912 rupees. In Punjab, Haryana and Madhya Pradesh, response to the wheat auction has higher from the last round of tenders. The agency had sold 95,150 tn of wheat in the fourth round of auctions that was held on Aug 9.