Centre to sell 30 Lakh ton of wheat in the open market

Published on January 29, 2023
Current context: The Food Corporation of India (FCI) sells surplus rice and wheat through the Open Market Sale Scheme, with pre-determined prices.
Centre to sell 30 Lakh ton of wheat in the open market
  • The Indian government has recently ordered the FCI to sell 30 LMT of wheat to curb rising wheat prices. The government will also conduct e-auctions to sell 3000 MT of wheat to bulk buyers or flour millers.
  •  The FCI will begin the e-auction of stocks nationwide from January to March 2023 within the next two months. The offloading is expected to have a prompt effect on controlling the rising prices and provide relief to the general public.
  • Wheat will be distributed to state governments and union territories without auctions to be sold to the public through the Public Distribution Systems (ration shops).
  •  Wheat will be sold at a discounted rate of Rs 2350 per quintal to government PSUs, cooperatives, federations, Kendriya Bhandar, etc., without needing an e-auction.
  • Wheat will also be sold at a concession to cooperative societies, public sector units, NAFED, etc., without e-auctions, at a fixed price of Rs 29.50.
  •  The rise in wheat prices is due to Russia's withdrawal from the Black Sea Grain Export Deal, delayed the Open Market Sale Scheme launch, increased international fuel costs, and high demand for Indian wheat in the international market leading to shortage inside the country.

Question: 

Q.1 Centre will sell how many tons of wheat in the open market?
a.30 Lakh ton
b.40 Lakh ton
c.50 Lakh ton
d.10 Lakh ton

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