However, the weighted average price of wheat has been going up in the past two-three auctions. In rice, there has not been much offtake, he said.Chopra said the government felt that tweaking the reserve price of rice may bring better results. Initially, wheat offered for sale used to be 4 lakh tonnes and now, it has been reduced to 1 lakh tonne in today's e-auction. "In today's e-auction, about 1,500 tonnes of rice has been sold under the OMSS," he said.FCI has adequate foodgrains stocks. It has additional 87 lakh tonnes of wheat and 217 lakh tonnes of rice available over and above the buffer norms, he added.

Source: Economic Times August 09, 2023 18:56 UTC