Business
Government cuts weekly wheat auction allocation by 5,000 tonnes
The Hindu BusinessLine·
The government cut wheat allocation for the October 28 FCI weekly auction by 5,000 tonnes to 1.01 lakh tonnes, BusinessLine reported. Millers bid above ₹3,100 per quintal while wholesale wheat averages ₹2,910 nationally. Dharmendra Jain said millers depend on FCI sales as open supplies tighten. Assam's quota fell to 5,000 tonnes despite taking 7,940 of 8,000 tonnes last round.
Prism
What It Means For You
- Flour millers in Assam, Telangana and Karnataka face smaller FCI quotas despite high uptake in the prior auction.
- Households may see flour costs track rising miller bids above ₹3,100 per quintal in several states.
- Processors in Punjab can bid on up to 25,000 tonnes in the October 28 tender.
What's Happening
- State FCI offices in nine regions floated bids with combined allocation about 11,900 tonnes below the October 21 round.
- Jain said the federation asked the government to increase weekly auction quantities.
- Punjab received 25,000 tonnes against 23,000 tonnes in the previous round with 204 successful bidders.
FCI Weekly Wheat Sales
- FCI weekly auctions release government wheat stocks to processors when open market supplies tighten.
- Millers in Telangana bought 3,460 of 3,500 tonnes last round but face 1,000 tonnes this time.
- Wholesale wheat averaged ₹2,910 per quintal nationally when BusinessLine reported the tender.
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