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The government has sold 71.01 lakh tonnes of wheat and 1.62 lakh tonnes of rice through auction in the open market to control prices. Wheat and rice are being offloaded in the market through weekly e-auctions since June 28, 2023. The central government has allocated 101.5 lakh tonnes of wheat and 25 lakh tonnes of rice for offloading under the Open Market Sale Scheme. The reserve prices for wheat are Rs 2,150 per quintal for Fair and Average Quality (FAQ) and Rs 2,125 per quintal for Under Relaxed Specifications (URS). The reserve price for rice is Rs 2,900 per quintal.

(This story has not been edited by THE WEEK and is auto-generated from a PTI

Wheat Prices: The Food Corporation of India (FCI), the government's nodal agency for procurement and distribution of foodgrains, will conduct an e-auction of wheat on June 28 and that of rice on July 5 to boost domestic supplies and control prices. The tenders will be floated soon.

The Food Corporation of India (FCI), the government's nodal agency for procurement and distribution of foodgrains, will conduct an e-auction of wheat on June 28 and that of rice on July 5 to boost domestic supplies and control prices. The tenders will be floated soon.

For the first time in 15 years, the government on Monday imposed stock limits on wheat with immediate effect till March 2024 in a bid to check hoarding and contain rising prices of the key commodity.