• UGI USER
  • Jun 20, 2023
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Open Market Sale Scheme : Discontinued The Sale Of Rice And Wheat

News: The Central Government recently stopped selling rice and wheat to State governments through the Open Market Sale Scheme (OMSS).

The Food Corporation of India (FCI) sells excess stocks of rice and wheat in the open market via e-auction at pre-set rates as part of OMSS.

During the lean season, it is important to increase the supply of food grains, especially wheat, in order to lower open market prices, especially in deficit regions.

Using the NCDEX (National Commodity and Derivatives Exchange Limited) platform, the FCI holds a weekly auction to carry out this plan on the open market.

If they need wheat and rice outside of the Targeted Public Distribution Scheme (TPDS) and Other Welfare Schemes (OWS), State Governments and Union Territory Administrations may also participate in the e-auction.

The government sets the reserve price. The bidders are not permitted to submit offers that are less than the reserve price in the FCI’s tenders.

The current version of OMSS consists of the following 3 schemes: E-auction sale of wheat to large consumers or private dealers.

wheat is sold by a specialised movement through an online auction to large consumers and individual dealers.

E-auction sale of Raw Rice Grade “A” to large consumers or individual traders