The central government has extended the limit on stock or stockpiling of edible oils and oilseeds till December this year. The government has taken a decision to check the rising prices of edible oil and oilseeds. The order issued in this regard will be effective from April 1.
In October 2021, the consumer affairs ministry had imposed stock limits till March 2022, and left it to the states to decide whether the stock limits should be based on availability and consumption pattern.
As per the latest order, the stock limit of edible oils will be 30 quintals for retailers, 500 quintals for wholesalers, 30 quintals for bulk consumers i.e. vendors and shops with large retail chains and 1,000 quintals for its depots. Edible oil processors can stock up to 90 days of their storage/production capacity.
In case of oilseeds, the stock holding limit will be 100 quintals for retailers and 2,000 quintals for wholesalers. Processors of oilseeds will be allowed to stock for 90 days production of edible oils as per daily production capacity. Exporters and importers have been kept out of the purview of this order with certain caveats.
Read this-Government’s decision on savings schemes like PPF-Sukanya, here are the interest rates
What did the government say: “This is expected to curb hoarding, black marketing etc. in the market, and will help in controlling the prices of edible oils. It will also ensure that maximum benefit of duty reduction is final,” said a statement issued by the government. be given to the consumers.
Six states – Uttar Pradesh, Karnataka, Himachal Pradesh, Telangana, Rajasthan and Bihar – which had issued their containment orders pursuant to a central government order, have also been brought under the purview of the latest order.