The Government of India remains committed to ensuring food security, stabilising prices, and supporting both consumers and stakeholders through strategic interventions. In line with this commitment, the government is implementing the Open Market Sale Scheme (OMSS) to increase the supply of wheat and rice in the open market.
The first e-auction of the current phase of OMSS was held on June 28, 2023, resulting in the sale of 0.86 LMT of wheat. Recognising the need to increase wheat availability and meet market demand, the government gradually increased the weekly offering of wheat in the e-auction from 2 LMT to the current level of 4.5 LMT. This increase has led to a significant rise in weekly wheat sales, exceeding 4 LMT. As of January 24, 2024, a total of 71.01 LMT of wheat has been sold under OMSS(D).
In addition to wheat, the government is also focusing on increasing the sale of rice through OMSS(D). To achieve this, the Reserve Price of rice was reduced from Rs. 3100/ Qtl to Rs. 2900/Qtl. The minimum and maximum quantity of rice was revised to 1 MT and 2000 MT, respectively. These measures have resulted in a gradual increase in rice sales, reaching the highest level of 1.62 LMT in any year under OMSS (D). The first e-auction of rice under OMSS(D) for 2023-24 was held on July 5, 2023.
Furthermore, the government is providing wheat to cooperative agencies like NAFED/NCCF/Kendriya Bhandar/MSCMFL under the Bharat Atta scheme. Under this scheme, semi-government/cooperative agencies are procuring wheat at a subsidised rate of Rs. 21.50/Kg, which has been revised to Rs. 17.15/ kg w.e.f. December 16, 2023. This wheat is then converted into atta and sold to the general public at a maximum price of Rs. 27.50/Kg. As of January 29, 24, a total of 2,80,456 MT wheat has been sold to these agencies.
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Through these strategic interventions, the Government of India is working towards stabilising prices, ensuring food security, and supporting both consumers and stakeholders in the agricultural sector.
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