Govt plans to sell 8 mln tonnes wheat at 1,890/qtl to bulk consumers.

Saddled with huge stock, the government plans to offload 7-8 million tonnes of fresh wheat in the open market at Rs 1,890 per quintal rate for meeting the demand from flour millers and other bulk consumers. The food ministry is likely to sell 7-8 million tonnes of wheat grown in 2017-18 crop year that ended last month. The rate at which the grain will be offloaded would be around Rs 100 per quintal higher than the last year. Last year, the OMSS rate for wheat was fixed at Rs 1,790 per quintal – ex-Ludhiana. As on June 1, the government was holding a wheat stock of 44 million tonnes. Its procurement agency FCI has purchased 35.5 million tonnes of fresh wheat in 2017-18.