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Kamal Nath warns against hoarding commodities

Kamal Nath warns against hoarding commodities
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First Published: Fri, Apr 04 2008. 11 46 AM IST
Updated: Fri, Apr 04 2008. 11 46 AM IST
Singapore: Trade Minister Kamal Nath said on Friday that his government will take stern action against those engaged in hoarding commodities and profiteering from the trade.
”We will not hesitate to take the strongest possible measures, including using some of the legal provisions that we have against hoarding, against profiteering, whether it’s in food, in cement, in steel,” he said on the sidelines of a conference in Singapore.
”We have great supply-side challenges in India at the moment with 15 million people moving from having one meal a day to two meals a day,” he added.
India banned exports of non-basmati rice on Monday to try to increase domestic supplies after soaring food prices pushed wholesale price inflation to a 14-month high.
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First Published: Fri, Apr 04 2008. 11 46 AM IST