The Department of Food and Public Distribution said on Sunday that it decided to impose stock limits on edible oils and oilseeds until March 31, 2022. This decision was made to soften the prices of edible oils in the country and provide relief to the consumers.
The ministry said the stock limits will be decided by the respective state governments based on local conditions. However, it has decided to grant an exemption to importers and exporters subject to conditions.
“Under this order, the stock limit of all edible oils and oilseeds will be decided by the Government of the respective States / Administration of the Union Territories on the basis of the available stocks and the consumption pattern of the State / Territory. of the Union ”, he said.
The order added that exporters (refiners, millers, extractors, wholesalers or retailers or traders), who have an importer-exporter code number, will be exempt from the stock limits, if they can demonstrate that all or part of their stocks they are destined for exports. Likewise, importers who demonstrate that all or part of their stocks come from imports will be exempt.
“In the event that the stocks held by the respective legal entities are higher than the prescribed limits, they must declare the same in the portal of the Department of Food and Public Distribution and bring it to the prescribed stock limits as decided by the State administration. / UT where it is fulfilling its functions, within 30 days following the issuance of said notification by said authorities ”, adds the order.
All state governments and UT administrations have been directed to set stock limits and have also been asked to ensure that information on stocks of edible oils and oilseeds is regularly reported on the Food Department portal. .
The central government has taken several measures in recent times, such as streamlining import tariffs and launching a web portal for self-disclosure of stocks held by various stakeholders, to address the challenge of high prices. of edible oil in the country.