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Open sale prices of wheat unchanged for August

Our Bureau

NEW DELHI, July 31

THE Food Corporation of India (FCI) has decided not to tamper with the prices of wheat offloaded to roller flour mills under its open market sale scheme (OMSS).

Accordingly, the prices for August have been fixed at Rs 650 per quintal for the North zone, Rs 695 per quintal for the West zone, Rs 705 per quintal for the East and North-East zones and Rs 720 per quintal for the South zone -- the same as those effecti ve during July.

Confirming this, a senior FCI official told Business Line that the move to keep prices unchanged was taken keeping in view overall open market price trends. Currently, benchmark wheat dara is quoting at Rs 595/597 in the Delhi market. While the OMSS rate for the North (Rs 650 per quintal) works out higher than the prices prevailing in the mandis, the rates fixed for the other zones are, however, seen as being reasonably competitive vis-a-vis the corresponding open market price levels.

FCI had reverted to a variable, zone-wise pricing structure from July onwards, barely a month after announcing a uniform all-India OMSS price of Rs 700 per quintal for June.