Govt offer 4 million tonne wheat under open market sales scheme FY18.

The Centre is likely to allocate 4 million tonne of wheat for the open market sales scheme during the 2017-18 (Apr-Mar) marketing year. During 2016-17, the government sold 4.6 million tonne wheat across the country at a base price of 1,640 rupees per 100 kg compared to the initial plan of selling 6.5-7.5 million tonne. The quantum of wheat offered under the open market sale scheme is lower this year because of tight government stocks. Carryover stocks at the beginning of the season were at 7.4 million tonne, which when added to the expected procurement of 30 million tonne wheat this year will take total stocks in government reserves to 37.4 million tonne.