Wheat prices may come down by Rs 5-6/kg

Roller Flour Millers Federation of India (RFMFI) on Thursday hailed the government’s decision to sell 30 lakh tonnes of wheat in the open market and said the move will lead to a reduction in wheat and wheat flour (atta) prices by ₹ 5-6 per kg. The Centre on Wednesday announced the sale of 30 lakh tonnes of wheat in the open market from its buffer stock to check the rise in prices of wheat and wheat flour (atta). The stocks will be sold by the state-owned Food Corporation of India (FCI) during the next two months through various channels. While wheat will be sold to bulk consumers like flour millers through e-auction, the FCI will offer wheat at ₹ 23.50 per kg to public sector units/cooperatives/ federations, Kendriya Bhandar/NCCF/NAFED for converting the grain to atta and offer it to the public at a maximum retail price (MRP) of ₹ 29.50 per kg. “We welcome the government decision. It should have been taken a month ago. It is a right step. Wholesale and retail prices will come down by ₹ 5-6 per kg,” RFMFI President Pramod Kumar told PTI. As per the government data, the average price of wheat across major cities stood at ₹ 33.43 per kilogram on Wednesday, up from ₹ 28.24 per kg a year ago. Average prices of atta (wheat flour) stood at ₹ 37.95 per kg against ₹ 31.41/kg a year ago. The FCI will offload 30 lakh tonnes of wheat from the central pool stock to the market through various routes under the Open Market Sale Scheme (Domestic), the food ministry said in a statement on Wednesday. The ministry had said that sales of wheat in the market through this scheme will have an “immediate impact on the soaring wheat and atta prices and will help contain the rising prices and will bring much relief to the common man”. In order to address the rising prices of wheat and atta, the group of ministers headed by Home Minister Amit Shah met on Wednesday and discussed the buffer stock position of the country. The committee decided that wheat will be offered to the flour millers, bu