The National Spot Exchange Ltd has urged the government's Food Corporation of India to reduce the permitted price if it wishes wheat to be auctioned under the government's Open Market Sales Scheme.
The market price of wheat is currently below the government-notified minimum support price of Rs 1,000 a quintal, due to the huge tradable surplus in the ongoing harvesting season.
FCI fixed the selling rate for Delhi at Rs 1,244 a quintal. Traders and millers find it makes more sense to buy from the open market.
Sebi holds hearing on IPO scam
Reliance Cap buys 30% Adlabs pie
India Inc's next hunting ground
Soros, Kaiser in race to buy 4% BSE stake