Key Points of FCI Wheat E-Auction
Objective: The objective is to sell wheat (FAQ standard quality, under URS discount) to flour mills, wheat processors, and end-users under the Open Market Sale Scheme (OMSS-D). E-Auction Process: The auction will be conducted by M/s Mjunction on behalf of FCI. The auction will take place on Wednesdays, and the tender will be uploaded on the website the preceding Friday. Reserve Price: FAQ Wheat: ₹2,325 per quintal. URS Wheat: ₹2,300 per quintal. Additional taxes and transportation charges will apply. Bid Limits: Minimum: 10 Metric Tons (MT). Maximum: 25 MT (for low tension connection holders). 100 MT (for high tension connection holders). If the electricity connection is not specified, it will be considered low tension. Registration Requirements: Valid PAN card. FSSAI license (valid for at least 25 days). State GST/Trade Tax registration. Stock Declaration: All participants must declare their current stock as per government regulations. Important Dates: EMD submission: Must be submitted before the auction. E-Auction: December 4, 2024, from 11:00 AM to 2:00 PM. Remaining payment: Within 7 working days of receiving the acceptance letter. Stock pickup: Within 15 days of receiving the acceptance letter (with a possible 3-day extension in certain cases). Eligibility Restrictions: Only one bid per PAN is allowed in a particular state/region. Entities with stock exceeding their monthly processing capacity are not eligible to participate. Stock Inspection: Interested bidders can inspect the stock before the auction. Payment Terms: EMD (5%): Must be deposited before bidding. The remaining amount must be paid electronically to FCI�s account. Stock Delivery: Buyers will arrange transportation, but FCI will load the trucks free of charge. Restricted Activities: The wheat cannot be resold to state governments, government agencies, or large buyers. Purchased wheat cannot be exported. Penalties: The EMD will be forfeited if: Payment is not made on time. Stock declaration or processing rules are not followed.