New Delhi: The Cabinet Committee on Economic Affairs (CCEA) is expected to reduce prices of wheat sold through the Open Market Sale Scheme (OMSS) to retail consumers to clear surplus stocks.
"The OMSS wheat issue is on the agenda of Wednesday's CCEA meeting," sources said.
The Centre has allowed a sale of 6 million tonnes of wheat under OMSS this fiscal. So far, a little over 3 million tones have been sold. The sales are down as consuming states are finding it expensive due to various local taxes.
Sources said the CCEA may consider lowering wheat prices for consuming states by Rs 2 per kg. The proposal is to fix wheat price at Rs 12.85 per kg plus ex-Ludhiana freight for consuming states and the Centre will bear local taxes.
As per the official data, the Food Corporation of India has a stock of 66.19 million tonnes of wheat and rice as on January 1, as against the actual requirement of 25 million tonnes. It has storage capacity of only 63 million tonnes.


Latest News  from Business News Desk