FCI’s flop show on wheat disposal

The Food Corporation of India’s two tenders for sale of wheat to bulk users which opened end-July 2013 to push market prices downward, have witnessed dismal participation. A mere 7,000 tonnes were quoted against the offered tonnage of 2,65,000 tonnes of Punjab/Haryana grain. The government authorised the release of 8.5 million tonnes for depressing food inflation. Haryana’s crop was of 2011-12 vintage, while Punjab’s 2013-14 harvest was made available.

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