India: Wheat prices may come down by ₹5-6/kg, miller welcome the government's move

Roller Flour Millers Federation of India (RFMFI) on Thursday welcomed the government’s decision to sell 30 lakh tonnes of wheat in the open market. It said the move will lead to a reduction in wheat and wheat flour (atta) prices by ₹5-6 per kg. The Centre on Wednesday announced that it will be off loading 30 lakh tonnes of wheat in the open market from its pool stock in order to keep in check the rising prices of wheat and wheat flour (atta). The government will sell the wheat stock in open market within a span of two months through multiple channels will have wider reach to keep the prices of wheat and flour in check. While wheat will be sold to bulk consumers like flour millers through e-auction, the FCI will for a maximum quantity of 3000 MT per buyer, per auction, from a FCI Region under e-auction. Wheat will also be offered to State Governments/UTs for their schemes without e-auction. It will also be offered at a concessional rates of ₹2350 per quintal to state-owned ...