As per earlier policy, FCI had been selling surplus wheat to bulk buyers such as flour millers and food companies during the lean season (January-March). Through initiating open market sales on a quarterly basis, the government is aiming to intervene in the market in case of any spike in wheat prices.
Retail wheat inflation rose by 19.91% in March 2023, a moderate decline from 25.37% in the previous month.
Sources said that during April, 2023, the government agencies have purchased more than 22 million tonne (MT) of wheat under the Minimum Support Price (MSP) operations, which is an increase of 38% on year.
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