FCI to offer 500 tn of rice through open market sales in Goa on Nov. 27
This story was originally published at 19:54 IST on 22 November 2024
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MUMBAI – The Food Corp of India will offer 500 tonnes of rice through open market sales in Goa on Nov. 27, the Ministry of Consumer Affairs, Food and Public Distribution said in a release. Bidders can bid a minimum of 1 tonne and a maximum of 2,000 tonnes in the auction, the ministry said.
Under the open market sales scheme, the government fixes the price of rice and sells to bulk buyers such as states and private millers through electronic auctions. This scheme helps in controlling the rising prices of rice and offers relief to the common man, the release said.
Rice stocks at the Centre's pool were at a 20-year high of 29.7 million tonnes as of Nov. 1, up 48% on year, but down 4.4% from the previous month, according to the data from the nodal food procurement agency. End
Reported by Anjali Lavania
Edited by Saji George Titus
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