Centre, states meet to curb hoarding of edible oil amid rising prices

The Ministry of Consumer Affairs, Food & Public Distribution said on Wednesday that a meeting was held with States and Union Territories (UTs) to discuss the implementation of measures to curb any unfair practices like hoarding and black marketing.

The stock limit for edible oilseeds is 100 quintals for retailers and 2000 quintals for wholesalers. Pic: Reuters

The Ministry of Consumer Affairs, Food & Public Distribution said on Wednesday that a meeting was held with States and Union Territories (UTs) to discuss the implementation of measures to curb any unfair practices like hoarding and black marketing.

"A meeting was held by the Department of Food & Public Distribution on 08.02.2022 with all States/UTs for discussing the implementation plan of the above order dated 3rd February 2022," the ministry said in a statement.

With an intent to give impetus to the various measures taken by the Government to cool the prices of edible oil in the country, the Government issued an order on 3rd February 2022 specifying the stock limit quantities on edible oils and oilseeds up to 30th June 2022.

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Stock Limit Orders empower the Union Government and all States and UTs to regulate the storage and distribution of edible oils and oilseeds. The Government would also be able to control the hoarding of edible oils and oilseeds in the country.

"During the meeting, it was emphasized that States/UTs authorities may enforce Stock Limit Quantities Order without causing any disruption in the supply chain and also any undue hardship to bonafide trade," the Ministry of Consumer Affairs, Food & Public Distribution said.

The stock limit for edible oilseeds is 100 quintals for retailers and 2000 quintals for wholesalers. The processors of edible oilseeds will be able to stock 90 days' production of edible oils based on their daily input capacity. With some caveats, this Order does not apply to exporters and importers.

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edible oil Commodities