DAYS AFTER THE Centre discontinued sale of rice to states including Karnataka under the Open Market Sale Scheme Domestic (OMSS-D) and asked the Food Corporation of India (FCI) to e-auction grains in the market to control rising prices, it turns out there are not many buyers last week with FCI receiving bids for only 170 metric tonne despite 3,86,000 metric tonne of rice on offer.
In the e-auction on July 5, FCI offered to sell 3,86,000 metric tonne of rice across 19 states and NEF (North East Frontier) region, a maximum of 1,50,000 metric tonne was for Punjab,followed by Tamil Nadu (49,000 metric tonne) and Karnataka (33,000 metric tonne).
FCI, however, received bids in three states - Maharashtra (70 metric tonne), Gujarat (50 metric tonne) and Karnataka (40 metric tonne) and the NEF Region (10 metric tonne), according to information available on the website of M Junction Services, a platform through which the FCI conducted the auction.
This story is from the July 10, 2023 edition of Financial Express Mumbai.
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This story is from the July 10, 2023 edition of Financial Express Mumbai.
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