The Food Corporation of India (FCI) is planning for direct rice sale, ensuring that the rice used for selling is of the best quality including the parboiled rice. These rice varieties will be sold directly to consumers during Delhi’s annual trade fair on November 14. Direct rice sale by FCI is seen as an attempt to secure feedback for any future retail sale plan. Further, FCI is also planning to increase rice sales from the central pool stock for which it will allow traders to buy in bulk (minimum 10,000 tonnes) through tender directly from their nearest depot, where FCI will make available the cereal absorbing transport costs, sources said.
Bulk Direct Rice Sale Plan with Flexible E-Auction Model
Notably, the first tender for 4.60 lakh tonnes (lt) under bulk sale was released on October 17 and the reserve price for rice has been kept at ₹2,800 per quintal. The e-tender will be open for bidding on October 22. The current open market sale scheme (OMSS) allows a bidder to buy from 1 tonne to 7,000 tonnes in each round from a zone whereas the bulk sale will allow unlimited opportunity to interested traders. A registered bidder can place their bid for a minimum quantity of 10,000 tonnes and a maximum of 50,000 tonnes in the e-auction. However, FCI has warned that rice purchased via e-auction method can only be sold domestically and shall not be exported by the bidder. Bidders in Uttar Pradesh, Bihar, Jharkhand, West Bengal, Assam, Gujarat, Maharashtra and Karnataka can purchase 50,000 tonnes each under the first round, whereas the quantity is less in the case of the north-east region, Kerala, Delhi and Rajasthan bidders.
The FCI has 49.57 lt of rice (including 139.22 lt in the form of paddy) in its stock as on October 1, which is more than four times the buffer stock requirement of 102.5 lt.