E-auction by FCI to bring down prices of wheat & flour

New Delhi: The Food Corporation of India (FCI) has ordered the second sale of wheat through e-auction on February 15 throughout the country to contain the prices.

Its spokesman said the prices are set to fall further after the wheat sold in the first E-auction on February 1 and 2 is lifted and flour (Aata) is made available in the market.

The FCI offered 22 lakh tonnes out of 25 lakh tonnes wheat stock earmarked for e-auction from the central pool stock to the market through the open market sale scheme (domestic) in the first e-auction.

In the e-auction more than 1150 bidders came forward for participation in the first week and a quantity of 9.2 lakh tonnes was sold across the country.

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