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NEW DELHI: The current wheat crop is in good condition and procurement is expected to be normal in the range of 300-400 lakh tonnes in the 2023-24 marketing year starting March, FCI chairman and managing director Ashok K Meena said on Thursday, adding that the impact of the open market sale of 13 lakh tonnes of the foodgrain has cooled down mandi prices and retail prices will start falling in a week.
Meanwhile, consumer affairs ministry data show that the retail price of atta in Delhi on Thursday was Rs 32 per kg, down by Rs 3 from January 24. At most centres, the price of atta has moderated, including Agra where price of atta has fallen by Rs 7 per kg and in Ghazipur (Uttar Pradesh), the price has come down by Rs 11. In Thiruvananthapuram and Chennai, atta prices have fallen by Rs 11 and Rs 6 respectively during the past one month.
Meena said most of the players who have bought the FCI wheat through e-auction are small and medium wholesale traders. Officials said it usually takes some time to convert wheat to atta at a commercial scale.
In the wake of the government’s open market intervention, the average wholesale price of wheat has fallen by almost Rs 600 per quintal in past three weeks. “We will offer another 11 lakh tonnes of wheat in the open market next week,” Meena said. He added the government has authorised FCI to offload another 20 lakh tonnes of wheat from its buffer stock.
The FCI chief said even after offering this additional quantity, the agency will have enough surplus over the mandatory buffer quantity. Elaborating, he said FCI will have a strategic reserve of nearly 95 lakh tonnes as on April 1, which is around 20 lakh more than the buffer stock.
Last year, wheat procurement for the central pool had declined to 188 lakh tonnes from 433.4 lakh tonnes in the 2021-22 marketing year, as per the official data.
Meanwhile, consumer affairs ministry data show that the retail price of atta in Delhi on Thursday was Rs 32 per kg, down by Rs 3 from January 24. At most centres, the price of atta has moderated, including Agra where price of atta has fallen by Rs 7 per kg and in Ghazipur (Uttar Pradesh), the price has come down by Rs 11. In Thiruvananthapuram and Chennai, atta prices have fallen by Rs 11 and Rs 6 respectively during the past one month.
Meena said most of the players who have bought the FCI wheat through e-auction are small and medium wholesale traders. Officials said it usually takes some time to convert wheat to atta at a commercial scale.
In the wake of the government’s open market intervention, the average wholesale price of wheat has fallen by almost Rs 600 per quintal in past three weeks. “We will offer another 11 lakh tonnes of wheat in the open market next week,” Meena said. He added the government has authorised FCI to offload another 20 lakh tonnes of wheat from its buffer stock.
The FCI chief said even after offering this additional quantity, the agency will have enough surplus over the mandatory buffer quantity. Elaborating, he said FCI will have a strategic reserve of nearly 95 lakh tonnes as on April 1, which is around 20 lakh more than the buffer stock.
Last year, wheat procurement for the central pool had declined to 188 lakh tonnes from 433.4 lakh tonnes in the 2021-22 marketing year, as per the official data.
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