Govt Sells 0.3 Million Tonne Wheat in Open Market

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

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Govt Sells 0.3 Million Tonne Wheat in Open Market

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Govt Sells 0.3 mt Wheat in Open Mkt:

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The government’s move to sell excess wheat stocks to bulk buyers for reducing retail price of wheat and wheat flour finally taken off after months of delay.

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Private bulk buyers have purchased 0.3 million tonne (mt) of wheat under the Open Market Sale Scheme (OMSS) from Food Corporation of India (FCI), till now.

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It marks a substantial amount given that less than 50,000 tonne were bought by bulk users ever since the scheme was launched in October 2009.

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Besides this, another 0.54 million tonne of wheat has been approved for sale to bulk users by the high-level committee set up to oversee the sale of government wheat.

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In Other major Commodities Updates we can read about Government officials lauding BT cotton for generating higher yeild.

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Govt official lauds Bt cotton:

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Genetically modified cotton — commonly termed Bt cotton has been a blessing, according to a senior government official.

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The country has generated an additional income of Rs 10,000 crore to Rs 12,000 crore annually because of its higher yield, J N Singh, joint secretary in the Union textiles ministry, told Business Standard.

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According to official figures, 80 per cent of the overall cotton crop is from Bt seeds.

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The area under Bt cotton has been growing between four and five per cent a year, more so in region with irrigation facilities.

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Bt cotton is, however, unlikely to replace conventional cotton completely, especially in rain-fed regions like Vidarbha, Singh added.

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🙂

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