FCI to offload 25 LMT wheat under OMSS (Domestic) 2024 to moderate prices
On 28 November 2024, the Centre decided that the Food Corporation of India will offload 25 lakh metric tonnes of wheat through e-auction under the Open Market Sales Scheme (Domestic) 2024 to moderate open-market prices.
Summary
On 28 November 2024, the Government of India decided that the Food Corporation of India (FCI) will offload 25 lakh metric tonnes (LMT) of wheat in the open market under the Open Market Sales Scheme (Domestic) [OMSS(D)] 2024. The wheat will be sold by e-auction to flour mills, wheat-product manufacturers, processors and end users to moderate wheat prices. To check inflation in the food economy, the Department of Food and Public Distribution has fixed a reserve price of ₹2,325 per quintal for wheat of Fair Average Quality (FAQ) and ₹2,300 per quintal for Under Relaxed Specifications (URS) wheat, valid up to 31 March 2025.
Key facts
- Quantity
- 25 LMT wheat by FCI
- Scheme
- OMSS (Domestic) 2024, e-auction
- Buyers
- Flour mills, wheat-product makers, processors, end users
- Reserve price
- ₹2,325/qtl (FAQ); ₹2,300/qtl (URS), till 31 Mar 2025
Practice MCQs 2 questions
How much wheat did the Centre decide on 28 November 2024 that FCI would offload under OMSS (Domestic) 2024?
Show answer
Correct answer: C — 25 LMT
PIB (Food & PD): FCI is to offload 25 LMT of wheat in the open market under OMSS (D) 2024 through e-auction.
Under the OMSS (Domestic) 2024 policy, what is the reserve price fixed for wheat of Fair Average Quality (FAQ)?
Show answer
Correct answer: B — ₹2,325 per quintal
PIB (Food & PD): the reserve price is ₹2,325/quintal for wheat (FAQ) and ₹2,300/quintal for wheat (URS), up to 31 March 2025.