FCI Doubles Wheat Tender Quantity Amid Rising Prices and Low Stocks

The Food Corporation of India doubled the wheat quantity offered in its weekly tender for November 4, increasing the auction amount to 1.99 lakh tonnes from 1.01 lakh tonnes. This increase comes as prices rise and stocks dwindle. Separately, Ashish Garg wrote to Pralhad Joshi seeking a review of reserve prices, lot sizes, and quantity restrictions for the sale.

The government's decision to increase the tender quantity is a response to rising prices and low stocks. However, experts suggest the move may not cool prices because the maximum quantity a single bidder can purchase each week remains unchanged. Allocations for several states, including Punjab and Haryana, were also raised in the recent tenders.