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Govt approves proposal to sell 30 lakh tonnes of wheat in open market to control prices

Last week, food secretary Sanjeev Chopra said prices of wheat and atta had increased in the retail market and the government was exploring all options to control the rates.

January 25, 2023 / 08:59 PM IST
Under the OMSS policy, the government allows FCI to sell food grains, especially wheat and rice, at pre-determined prices in the open market from time to time to bulk consumers and private traders.

Under the OMSS policy, the government allows FCI to sell food grains, especially wheat and rice, at pre-determined prices in the open market from time to time to bulk consumers and private traders.

The central government on January 24 approved a proposal to sell 30 lakh tonnes of wheat in the open market to control prices of wheat and wheat flour.

"Offloading of 30 LMT wheat in the market through OMSS (D) scheme within a span of two months through multiple channels will have wider reach as well as immediate impact on the soaring wheat and atta (wheat flour) prices and will help contain the rising prices and will bring much relief to the common man," the Ministry of Consumer Affairs, Food & Public Distribution said in a statement.

Earlier today, the Group of Ministers headed by Home Minister Amit Shah held a meeting to discuss the buffer stock position of the country.

Last week, food secretary Sanjeev Chopra said that prices of wheat and atta had increased in the retail market and the government was exploring all options to control the rates.