The Food Corporation of India (FCI) has recommended a base price of ₹1,890/quintal for selling wheat under the open market sales scheme in 2018-19 (April-March). The pro-posed price is ₹100 higher from a year ago.
The suggested hike is in line with the increase in minimum support price (MSP) of the commodity for the current marketing year, an FCI official said.
The suggested hike is in line with the increase in minimum support price (MSP) of the commodity for the current marketing year, an FCI official said.
For 2018-19, the government has fixed MSP for wheat at ₹1,735 a quintal, up by ₹110 from the previous year. FCI may offer to offload the entire surplus stock of wheat during open market sales, the official said. According to FCI data, the government had 13.2 mil-lion tonnes (mt) of wheat stocked as of April 1. Adding the 33 mt wheat procured from various States will increase the stock to 46.2 mt — 12.7 mt higher than the average an-nual need.
For 2018-19, the government has fixed MSP for wheat at ₹1,735 a quintal, up by ₹110 from the previous year. FCI may offer to offload the entire surplus stock of wheat during open market sales, the official said. According to FCI data, the government had 13.2 mil-lion tonnes (mt) of wheat stocked as of April 1. Adding the 33 mt wheat procured from various States will increase the stock to 46.2 mt — 12.7 mt higher than the average an-nual need.
To be able to sell wheat in the open market, the government will have to increase import duty on the grain to 30-40 per cent as imports come much cheaper at current prices, the official said.
Write a comment...
Source: Press Reader
