Food Management and Trading Company To Purchase 5,000 Tons Of Wheat
April 12, 2021 | Investopaper
Food Management and Trading Company Limited is going to purchase 5,000 tons of wheat. The company is going to buy wheat from farmers as per the support price fixed by the government.
The company has allocated Rs 15.58 crores for the purchase of wheat this year. The government has fixed the support price of wheat at Rs 3,111 per quintal for the current fiscal year. The company is going to buy wheat from farmers at the same price. It will purchase wheat in Mahendranagar, Dhangadhi-Tikapur, Rajapur, Nepalgunj, Bhairahawa, Biratnagar, Lahan, and Birgunj branches.
Last year, the price of wheat was fixed at Rs 3,015 per quintal. Compared to last year’s support price of wheat, the current year’s price has increased by 3.18 percent.
The company plans to purchase 3,000 metric tonnes in the first phase and then according to market demand and need.
Last year, the company bought and sold only 560 metric tonnes at a support price of Rs 3,015.
About 20 lakh tons of wheat is produced in Nepal annually.
