The Open Market Sale Scheme (OMSS) is a program implemented by the Food Corporation of India (FCI) to sell surplus stocks of wheat and rice in the open market. The FCI conducts e-auctions on a regular basis, offering these food grains at predetermined prices. The main objective of OMSS is to enhance the supply of food grains and regulate wheat prices in the open market.

 

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To facilitate the auction process for OMSS, the FCI collaborates with the National Commodity and Derivatives Exchange Limited (NCDEX), an Indian commodity exchange platform. The NCDEX provides a trading platform for various agricultural and other commodities.

 

The Food Corporation of India (FCI) is a government-owned corporation responsible for managing the food security system in India. Established in 1965 under the Food Corporation's Act 1964, its primary goal is to ensure the availability of adequate food grains across the country while maintaining price stability in the market. The FCI also maintains buffer stocks of food grains to safeguard against scarcity or crisis situations.

 

In addition to managing the food security system, the FCI plays a crucial role in the distribution of food grains for the public distribution system in India. As part of its surplus management strategy, the FCI utilizes e-auctions as one of the methods to effectively dispose of excess food grains.