Govt exempts wholesalers, big retailers from stock limit on edible oil, oilseeds
In a move to further make the edible oil supply chain seamless, the central government has exempted the current stock limit for wholesalers and big chain retailers.
In the wake of rising prices of edible oil, the Centre imposed stock limits on edible oil and oilseeds till March 2022 and suspended future trading on Mustard oil and oilseeds.
The decision was taken to soften the prices of edible oils in the domestic market mainly during the festive season, said a senior officer of the Ministry of Food and Public Distribution here on Sunday. The Centre has also asked state governments to update the stocks of edible oilseeds to the Union government.
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“The Removal of Licensing Requirements, Stock Limits, and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2021 has been issued with immediate effect. The future trading on Mustard Oil and Oilseeds has also been suspended in NCDEX,” the officer said.
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The high prices of edible oil in the international market has a substantial impact on domestic edible oil prices.
Keeping in mind the high price of edible oil in the international market, the Centre has formulated a multi-pronged strategy to ensure that the prices of essential commodities like edible oils remain controlled.
“Measures like rationalization of import duty structure, launching of a web-portal for self-disclosure of stocks held by various stakeholders had already been taken,” the Ministry said.
As per the order, the stock limit of all Edible Oils and Oilseeds will be decided by the respective States Government on the basis of available stock and consumption pattern of the State.
In case, the stocks held by respective legal entities are higher than the prescribed limits then they shall declare the same on the portal (https://evegoils.nic.in/EOSP/login) of the Department of Food & Public Distribution and bring it to the prescribed stock limits as decided by the respective state within 30 days of the issue of such notification by the said authorities.
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