Wheat: FCI sold 2.84 lakh tonnes at an average of ₹2,234/q in the latest e-auction

The government, through the Food Corporation of India (FCI), sold 2.84 lakh tonnes of wheat in the open market sale scheme through e-auction on November 15, which is about 95 percent of 3 lakh tonnes of the total quantity offered for sales to the processors. After raising the offered quantity in the auction, the government has been able to lower the selling rates of wheat. Against the reserve price of ₹2,127/q in the e-auction, the weighted average selling price was ₹2,234, which is lower from ₹2,252 in the previous week Total 36.11 lakh tonnes of wheat sold by FCI since June 28 under OMSS.

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