Govt sells 1.4 mln tn wheat in open mkt so far, last auction on 21 March.

The government has sold 1.4 mln tn wheat under the open market sales scheme so far in 2017-18 (Apr-Mar) marketing year, and the final auction for the year will take place on March 21. For 2017-18 (Apr-Mar) open market sales, the government has set the base price of 1,790 rupees per 100 kg for procuring states, and an additional cost equivalent of ex-Ludhiana freight for non-procuring states. The government is likely to sell around 10,000 tn wheat and the procurement for the current year may end slightly above 1.4 MMT.