August 13, 2023 9:06 PM

Centre to E-auction 50 Lakh MT of wheat and 25 LMT of rice to tame inflation and enhance food availability

The Centre has decided to release 50 Lakh Metric Tonnes of wheat and 25 LMT of rice through E-auctions under the Open Market Sale Scheme (Domestic) or OMSS (D) scheme. The reserve price of rice has been reduced by 200 rupees per quintal, with the effective price now being 2,900 rupees per quintal. Department of Food and Public Distribution said the move to offer wheat and rice through OMSS (D) aims to moderate market prices, control inflation, and enhance food availability. Stocks will be offloa...