Government sells 1,188,000 tonnes wheat in fifth round of auction

A total quantity of 11.88 lakh metric tonnes of wheat has been sold in the fifth round of auction which was conducted on Thursday.

After the fifth round of e-auction, the cumulative sales of wheat in open market has touched 28.86 LMT against the overall allocation of 45 LMT.

The sale has brought significant effect in cooling down the price of wheat and atta all over the country.

The next e-auction would be conducted on March 15 and in view of the start of wheat procurement period from April 1, the government has allowed the lifting to be completed by March 31.

Amid rising prices of wheat, government had decided to sell the commodity in open market, to cool down prices.

--IANS

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