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Government imposes stock limit on edible oils and oilseeds till 30 June
Government imposes stock limit on edible oils and oilseeds till 30 June
In an effort to further cool down the prices of edible oils, the Union Government has imposed a stock limit on edible oils and oilseeds up to June 30, 2022. In its earlier order, the Government had notified the stock limits up to March 31, 2022.
In an effort to further cool down the prices of edible oils, the Union Government has imposed a stock limit on edible oils and oilseeds up to June 30, 2022. In its earlier order, the Government had notified the stock limits up to March 31, 2022.
However, the quantities of stock limits of oils and oilseeds were left to be decided by the States and UTs based on available stock and consumption patterns.
On review of this Order, it was observed that only six states namely Uttar Pradesh, Karnataka, Himachal Pradesh, Telangana, Rajasthan and Bihar had imposed the stock limit order in pursuance of the Central Order in their State.
Since the implementation of stock limits across all States and UTs is necessary to transfer the full benefit of price control to the consumers, the Union Government has specified the quantities of stock limits of edible oils and oilseeds for all States except these six States.
Ministry of Consumer Affairs, Food and Public Distribution in a statement said that the decision would empower the Union Government and all States to regulate the storage and distribution of edible oils and oilseeds. This would also help the Government in checking the hoarding of edible oils and oilseeds in the country.
For edible oils, the stock limit would be 30 quintals for retailers,500 quintals for wholesalers, 30 quintals for retail outlets of bulk consumers and shops and 1000 quintals for its depots. Processors of edible oils would be able to stock 90 days of their storage capacities.
