NEW DELHI: The current wheat crop is in good condition and procurement is anticipated to be normal in the variety of 300-400 lakh tonnes in the 2023-24 marketing year starting March, FCI chairman and handling director Ashok K Meena stated on Thursday, including that the impact of the free market sale of 13 lakh tonnes of the foodgrain has cooled down mandi rates and market prices will begin falling in a week.Meanwhile, consumer affairs ministry information reveal that the market price of atta in Delhi on Thursday was Rs 32 per kg, down by Rs 3 from January 24.

At a lot of centres, the price of atta has actually moderated, including Agra where cost of atta has actually fallen by Rs 7 per kg and in Ghazipur (Uttar Pradesh), the cost has boiled down by Rs 11.

In Thiruvananthapuram and Chennai, atta prices have fallen by Rs 11 and Rs 6 respectively throughout the past one month.Meena said most of the gamers who have actually bought the FCI wheat through e-auction are small and medium wholesale traders.

Authorities stated it typically spends some time to transform wheat to atta at an industrial scale.In the wake of the governments open market intervention, the average wholesale cost of wheat has fallen by almost Rs 600 per quintal in past three weeks.

We will use another 11 lakh tonnes of wheat outdoors market next week, Meena stated.

He added the government has actually authorised FCI to unload another 20 lakh tonnes of wheat from its buffer stock.The FCI chief stated even after providing this extra quantity, the firm will have sufficient surplus over the compulsory buffer quantity.

Elaborating, he stated FCI will have a strategic reserve of nearly 95 lakh tonnes as on April 1, which is around 20 lakh more than the buffer stock.

In 2015, wheat procurement for the central swimming pool had actually decreased to 188 lakh tonnes from 433.4 lakh tonnes in the 2021-22 marketing year, based on the main information.