A day after the Centre’s decision to offload 3 million tonnes (mt) of wheat in the open market from official reserves, the Food Corporation of India (FCI) has decided to float the first tender on Friday. The actual e-auction may take place on February 1.

In a communication to senior officials of different zones, FCI’s Chairman and Managing Director Ashok Meena said all necessary arrangements should be made to ensure that wheat immediately reaches the market for which guidelines would be issued at the earliest, according to sources in the flour milling industry. Meena could not be contacted for his comments.

Orders to zonal heads

Informing that out of 3 mt, the government has decided to sell 2.5 mt via e-auction, Meena directed them to take immediate action from as many depots as possible. Quantities ranging from 10 tonnes to 3,000 tonnes per buyer should be made available based on the availability at each depot so that small buyers, flour millers and big buyers get the cereal.

Highlighting that the maximum offering of wheat should be made in the first few e-auctions, Meena said as small as 10 tonnes may also be offered from as many depots as possible. He asked zonal heads of FCI to indent additional wheat rakes with the head office so that the grain is despatched from where it is available to augment where stocks are comparatively low.