In the weekly e-auction held on January 15, 2025, the Food Corporation of India (FCI) increased the wheat sale offer to 1.5 lakh tonnes, a 50% rise from the usual 1 lakh tonnes, in response to a growing demand from millers and processors. As a result, millers purchased 94% of the offered wheat, amounting to approximately 1.41 lakh tonnes.

Despite the higher quantity of wheat being made available, the bidding prices remained high, with the average price in India recorded at Rs 2,696 per quintal.

In several states, including Assam, Odisha, and Madhya Pradesh, the wheat offered for sale was nearly fully purchased, reflecting a strong demand for the grain.

However, in Karnataka, only 82% of the 7,000 tonnes offered was purchased, primarily due to technical issues preventing some millers from submitting their advance payments on time.

Millers are optimistic that next week’s auction will see full purchases due to a significant wheat shortage in the state.

The high bids above Rs 3,000 per quintal highlight the elevated market prices of wheat, which remain above the Minimum Support Price (MSP) of Rs 2,425 per quintal for the 2024-25 season.

To manage these high prices, there is a call for the government to offer more wheat in upcoming auctions.