India plans to sell 2.5 million tonnes of wheat via e-auctions to help stabilize prices.

The Indian government plans to sell 25 lakh tonnes of wheat through e-auctions to bulk buyers such as flour mills and processors to control rising prices. This Open Market Sale Scheme (OMSS) aims to stabilize wheat prices by auctioning wheat to private parties until March 31, 2025, with reserve prices set at Rs 2,325 per quintal for fair quality and Rs 2,300 for under specifications. The move follows efforts to manage food inflation and maintain supply chain stability.

November 28, 2024
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