NEW DELHI (Commoditiescontrol) – The government has started offloading wheat from central pool to open market but buyers are seen reluctant to participate in e-auctions for wheat offered by the government agency for sale. The traders and flour millers are not paying heed to the tenders invited by the FCI as its base price is considerably high and wheat is available in the markets in ample quantity at lower rates, said marketmen.
Due to tepid response from the bulk consumers, the Food Corporation of India (FCI) could sell only 600 tonnes of wheat through Open Market Sales Schemes (OMSS) in the domestic market in the first tender invited in July, while the agency had offered 4,81,900 tonnes of wheat for sale.
The FCI has offloaded 1,15,600 tonnes of wheat so far in ongoing marketing season though open market sales starting from June while total quantity offered for sale was 4,52,600 tonnes.
The sale of wheat to bulk consumers was stood nil. Similarly, sale of wheat under dedicated movement remained zero and number of rakes also held zero so far as bulk buyers paid tepid response due to high reserve price, as per the marketmen. The quantity of wheat liquidated so far by the Corporation has been sold to state governments only.
Stocks of wheat in central pool held at 322.75 lakh tonnes as on July 1, 2017 against 334.40 lakh tonens a month ago but up by 20.94 lakh tonnes or 6.9 percent from last year as stocks of wheat with FCI were 301.81 lakh tonnes as on July 2016. The stocks of wheat were low last year as the government agencies could procure only 230 lakh tonens wheat in 2016 due to low production and higher market prices.
Contrary to that, there is a record production of wheat this year and the government agencies have also procured 308 lakh tonnes wheat this rabi marketing season 2017-18. However, the agencies have stopped procurement after June 30, but stocks are sufficient to meet domestic demand.
The agency has fixed reserve prices for bulk sale of wheat under OMSS in the marketing year 2017-18 at Rs. 1,790/100kg for the private bulk buyers and traders. In the states of Punjab, Haryana and Madhya Pradesh, reserve price of wheat will be at Rs. 1,790/100kg. In the other states, railway freight ex Ludhiana to the nearest railhead and road transport cost from railhead to the depot where sale is undertaken, will be added to the reserve price.
Third Advance Estimates The agriculture ministry has estimated wheat production all time high at 974.4 lakh tones in the third advance estimates. This year’s wheat production is higher by 1.66% than the previous record production of 958.5 lakh tonnes achieved during 2013-14.
Production of wheat during 2016-17 is also higher by 48.3 lakh tonnes (5.21%) than the average wheat production. The current year’s production is higher by 51.5 lakh tonnes (5.58%) as compared to wheat production of 922.9 lakh tonnes achieved during 2015-16.
0 Comments 
Post Comment 
