Cabinet nod to additional wheat, rice sale in open market

New Delhi, Nov 10 (IANS) The Cabinet Committee on Economic Affairs Saturday approved additional allocation of wheat and rice under the Open Market Sale Scheme, aimed to have a moderating influence on the prices of the commodities.

"The CCEA has approved allocation of 65 lakh tonnes of wheat for tender sale by the Food Corporation of India to bulk consumers/traders and allocation of five lakh tonnes of wheat and rice each for sale to retail consumers through State/Union Territory governments and national cooperatives like NAFED, NCCF and Kendriya Bhandar under Open Market Sale Scheme," a statement said.

The sale of wheat/rice under the open market sale scheme will increase the availability of these commodities in the market and will have moderating influence on prices of wheat and rice in the open market, the statement added.