The second e-auction of wheat is scheduled to take place on 15th February 2023, Wednesday throughout the country. The Food Corporation of India (FCI) has instructed the winning bidders of the first e-auction, which was held on the 1st and 2nd of February, to pay the cost and collect the stock immediately from designated depots across the country. This will help in reducing the prices of wheat and atta in the market.
The first e-auction was conducted in response to the rising price of wheat and atta in the country. The Group of Ministers recommended that the Food Corporation of India offer 22.0 LMT of its 25 LMT wheat stock earmarked for e-auction through the Open Market Sale Scheme (Domestic) in the e-auction.
In the first week of the e-auction, over 1150 bidders participated and a total of 9.2 LMT of wheat was sold across the country. The second e-auction is expected to witness a similar response from the bidders and will help in providing a steady supply of wheat in the market, thereby controlling the prices.
