27-Jan-2023: FCI will off load 30 LMT wheat from the Central pool stock
Wheat Offloading
- 30 LMT wheat from Central pool stock to be offloaded to market through OMSS
- Wheat offered to State Governments/UTs for their schemes without e-auction.
Open Market Sale Scheme (OMSS)
- Disposes off surplus stocks of wheat and rice held by FCI
- Regulates prices of wheat in the open market
- Enhances supply of food grains
- Predetermined prices through e-auction
- Weekly auctions for OMSS for wheat on NCDEX platform
Food Corporation of India
- Government-owned corporation
- Established in 1965
- Objective: ensure adequate availability of food grains and maintain price stability
- Maintains buffer stocks of food grains for food security
- Responsible for distributing foodgrains for public distribution system
- Conducts e-auction to dispose off surplus food grains
National Commodity and Derivatives Exchange Limited (NCDEX)
- Commodity exchange platform in India
- Provides platform for trading in agricultural and other commodities