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Informist, Friday, Mar. 7, 2025

By Afra Abubacker

NEW DELHI – The Food Corp. of India ended wheat auctions on Wednesday as it sold almost the entire allocated quantity--2.96 million tonnes--under the open market sales scheme in 2024-25 (Apr-Mar), an FCI official said. Since December, the agency has offered 3.0 million tonnes through 14 weekly auctions and sold 98.6% of it in the open market. Last year, FCI sold a record 9.41 million tonnes to processors and millers. 

Amid robust demand for wheat and to check prices, the government increased allocation under the open market sales scheme for 2024-25 to 3.0 million tonnes from 2.5 million tonnes earlier. The corporation is set to start wheat procurement operations in the coming days. 

Amid wheat shortages in the market, millers competed for the grain from government godowns and the average selling price in FY25 rose to INR 2,799.8 per 100 kg. This is INR 335.5 higher than the average reserve price of INR 2,464.3 per 100 kg, FCI data showed. 

Though new crop arrivals have started trickling into the market, wheat prices remain firm amid tight supply in the open market. So far, new crop arrivals have started only in Rajasthan, Madhya Pradesh, Uttar Pradesh, and Gujarat.

On Thursday, the all-India average wholesale price was INR 2,973.4 per 100 kg, up by INR 227 per 100 kg, or 8.3%, on year amid tight supply in the market. Retail prices of atta, or wheat flour, in Delhi have risen INR 7 per kg, or nearly 22.6%, on year to INR 38 per kg.

In its last wheat auction for the year, FCI offered 500,000 tonnes and sold 496,000 tonnes on Wednesday. The highest bids were INR 2,859.00 per 100 kg in Uttar Pradesh, INR 2,850.00 in Punjab, and INR 2,728.0 in Delhi, FCI data showed.

Asked about the closing stock as of Mar. 31, the official said it will likely be around 9.5 million tonnes-10.5 million tonnes. Last year, the closing stock was 7.5 million tonnes. End

Edited by Deepshikha Bhardwaj

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