Indian flour mills purchased 1.41 lakh tonnes of wheat during the Food Corporation of India’s (FCI) open market sale this week. This acquisition comes as part of the government’s Open Market Sale Scheme (OMSS), which aims to regulate wheat prices and maintain sufficient stock availability in the domestic market.
The FCI’s decision to release wheat through OMSS is a measure to address price fluctuations caused by high demand and supply constraints in the country. By ensuring a steady flow of wheat into the market, the scheme intends to prevent shortages and stabilize rates for both consumers and industrial buyers, such as flour mills.
Earlier reports indicated a rise in wheat prices in some regions due to factors such as reduced output and increasing demand from flour producers. To counteract these challenges, the FCI has been conducting periodic auctions under the OMSS. This week’s sale highlights the continued reliance of millers on government stock to meet their operational needs.
Market experts believe the OMSS not only supports millers but also plays a critical role in moderating inflationary pressures by curbing steep price hikes. The wheat purchased by flour mills is expected to ensure consistent supply for producing various products like flour and bread, which are staple foods for millions across India.
With consistent releases under OMSS, the government aims to maintain a balance in the grain market while supporting industries dependent on wheat. This initiative underscores FCI’s role in safeguarding India’s food security and price stability.
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Winston
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