India will not initiate fresh wheat sales under the Open Market Sale Scheme (OMSS) this season, as current stocks and market conditions remain comfortable, Food Secretary Sanjeev Chopra said on Thursday.
Speaking at the sidelines of the Indian Vegetable Oil Producers’ Association (IVPA) Global Roundtable, Chopra emphasized that there is no immediate requirement to intervene in the wheat market through OMSS. “Adequate stocks are there. We have procured a very healthy quantity. So, there is an adequate supply in the market. The prices are already stable. So there is no need [for OMSS],” he said.
The OMSS is typically deployed by the government to regulate prices and ensure smooth supply by offloading surplus stocks from the central pool—managed by the Food Corporation of India (FCI)—at fixed reserve prices directly to bulk buyers such as flour mills and biscuit manufacturers.
India’s wheat procurement in the 2024-25 season has been robust, supported by a record estimated output of 117.5 million tonnes, the highest ever in the country’s history. The healthy harvest and improved procurement have created a buffer that, according to Chopra, removes the necessity for immediate open market intervention.
During the 2024-25 fiscal year that ended in March, India sold around 3 million tonnes of wheat under OMSS—a significant drop from the 10.1 million tonnes sold in 2023-24, indicating improved market stability and self-regulating supply-demand dynamics.
With consumer prices remaining stable and domestic stocks sufficient, the government appears confident in letting market forces play out without additional supply interventions, at least in the short term.