(a) whether the Government has fixed the reserve price for the sale of old stock of wheat at Rs. 1,500 per quintal while for premium new variety, it has been set at an additional cost of five per cent whereas the Minimum Support Price (MSP) for the same has been fixed at Rs. 1,400 per quintal; and
(b) if so, the details thereof and the reasons therefor?
MINISTER OF STATE IN THE CONSUMER AFFAIRS, FOOD & PUBLIC DISTRIBUTION (SHRI RAOSAHEB PATIL DANVE)
(a)&(b) The reserve price of wheat for sale under Open Market Sale Scheme (Domestic) – (OMSS-D) has been fixed at Rs.1500 per quintal for the wheat stock of earlier years and Rs.1570 per quintal for the wheat stock of Rabi Marketing Season (RMS) 2014-15.
Food Corporation of India (FCI) follows the principle of ‘First In First Out’ (FIFO) to clear the stock from the depots and as per this principle older stock should be sold first. In order to improve demand of FCI wheat among the private bulk buyers, this principle has been relaxed and fresh stock of RMS 2014-15 has been offered but with a premium of 5% of the MSP of wheat for the current season i.e. Rs. 70.00 per quintal over and above the reserve price of wheat fixed in general.