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Govt trims open market sale price of rice
Mint Mumbai
|August 10, 2023
The Union government on Wednesday decided to lower the base price of rice being auctioned by the Food Corp. of India (FCI) under a scheme for bulk buyers, millers, processors and traders, after receiving muted response in the six auctions held so far.
On 5 July, the government had set a reserve price of ₹3,100 per quintal for rice under the so-called open market sale scheme domestic (OMSS-D), which did not find many takers given that it was priced above market rates.
Buyers on Wednesday picked up only 1,500 tonnes, and a total of 495 tonnes in the previous five auctions, prompting government to cut the base price by ₹200 a quintal. The new reserve price will take effect from next week’s auction.
“Keeping in view the experience of the past five e-auctions for rice by FCI, it has been decided that the reserve price will be brought down by ₹200 a quintal and the effective price now will be ₹2900 per quintal," Union food and public distribution secretary Sanjeev Chopra told reporters.
Cette histoire est tirée de l'édition August 10, 2023 de Mint Mumbai.
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