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No wheat open market sale as supplies ample, prices stable: Food secy
The government operates the Open Market Sale Scheme (OMSS) to regulate wheat supply and prices by selling surplus stocks from the central pool, managed by Food Corporation of India (FCI), directly to the market at preset reserve prices.
"Adequate stocks are there. We have procured very healthy quantity. So there is adequate supply in the market. The prices are already stable. So there is no need of (wheat OMSS)," Chopra told reporters on the sidelines of an Indian Vegetable Oil Producers' Association (IVPA) Global roundtable.
India sold about 3 million tonne of wheat under OMSS during 2024-25 fiscal year ended March, compared with about 10.1 million tonne in 2023-24.
The country's wheat production is estimated at a record 117.5 million tonne in 2024-25 crop year.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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