Government to resume wheat sale, will consider lifting rice export ban

New Delhi: The government has decided to resume open market wheat sales in August to keep prices from rising, and it is likely to ease the prohibition on exporting certain varieties of non-basmati rice in response to exporters' demands.

To clear the way for the sale of FCI's wheat supply, the food ministry has set a minimum sale price of Rs 2,325/quintal for private bulk buyers such as millers, which is lower than the current market price of Rs 2,400/quintal.

Similarly, the minimum sale price for rice to bulk buyers has been set at Rs 2,800 per quintal. These prices do not include transportation charges from FCI depots.

In an official message, the ministry stated that the amount of grain stocks to be offloaded will be determined by FCI in collaboration with the ministry after considering the stock allocated for the PDS, buffer norms, and an additional quantity of 20 lakh tonnes.

Source: The Times Of India