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No need to sell wheat under OMSS, supply and prices stabilized
Wheat: Food Secretary Sanjeev Chopra said on Thursday that there is no need to sell wheat in the open market, as the supply is sufficient and prices are stable. He said that we have bought a very good quantity. Therefore there is sufficient supply in the market.
The government has provided relief data on the availability and prices of wheat. Food Secretary Sanjeev Chopra said on Thursday that there is no need to sell wheat from government reserves under the open market intervention scheme as the supply is sufficient and prices are stable.
Chopra stated during the occasion of the global roundtable session of the Indian Vegetable Oil Producers Association (IVPA) that there exists adequate stock. We have purchased a very good quantity. Thus there is adequate supply in the market. Prices are already firm. Thus there is no requirement for wheat OMSS.
The supply of wheat and the prices are controlled by the government under the Open Market Sales Scheme (OMSS). The excess wheat held in the central reserves by the Food Corporation of India (FCI) is directly sold in the market at the mandated reserve price under this scheme.
