Govt exempts big retailers from stockholding limits on edible oils, oilseeds
PremiumTo make the supply chain seamless amid easing global edible oil prices, the centre on Tuesday removed the wholesalers and big chain retailers from the stock limit order on edible oil and oil seeds
With easing edible oil prices in the domestic and international market, the union government on Tuesday exempted wholesalers and big chain retailers from the stock limit order on edible oil and oil seeds with immediate effect.
The ministry of consumer affairs, food & public distribution said that the stock limit order was imposed in the country due to increasing prices of edible oils and to check hoarding, profiteering & black marketing.
“To further make the supply chain seamless, the government has issued a notification for exempting the category of wholesalers and big chain retailers from the current stock limit order. The order will come into effect immediately.
The removal of wholesalers and big chain retailers from the stock limit order would allow them to keep various varieties and brands of edible oils, which they are unable to keep at present due to stock control order," the ministry said.
The removal will also have a positive effect on the oilseed prices as it will boost procurement of the oilseeds hereby increasing the returns of domestic oilseeds growing farmers, the ministry added.
The government also said that the ceiling of stock limit quantity was left to be decided by the respective States/Union Territories on the basis of the available stock of oil and oilseeds and the consumption pattern of the respective State/Union Territory.
“Subsequently, the stock limit quantities on edible oils and oilseeds was prescribed uniformly for all states and union Territories and the order was extended upto 30th June, 2022 vide Order dated 3rd February 2022 . Later, the order was further extended upto 31.12.2022 vide Central Order dated 30th March, 2022," it added.
