The Hindu Business Line : ‘No stock limits for imported edible oils’

Agri-Biz & Commodities - Oilseeds & Edible Oil
Industry & Economy - Exports & Imports
Government - Agricultural Policy
‘No stock limits for imported edible oils’

Our Bureau

Chennai, April 15 The Union Government has clarified that the stock limit, being enforced under the Essential Commodities Act, 1955 will not apply to imported edible oils.

In an order passed on April 7, the Ministry of Consumer Affairs, Food and Public Distribution said the order to further amend the Removal of (Licensing requirements, Stock Limits and Movement Restrictions) on Specified Foodstuffs Order, 2002 would be kept in abeyance for commodities such as edible oils, oilseeds and rice for one year.

declaration

It would also not apply for transport distribution or disposal of edible oils, oilseeds and rice to places outside the State and also to import of these commodities. However, importers may be directed by the Centre or States to declare receipt of stocks and quantity retained by them.

The order follows representation from the industry complaining harassment by particularly State Government officials. They had especially complained of harassment in Maharashtra.

Officials said the Maharashtra Government was told by the Centre not to harass importers in particular.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
‘Cash-back scheme for left-out farmers’

Banks to lend Rs 3,449 cr

Firms must state reasons for buying wheat

Weather trends throw up confusing signals

Fishermen upset over extended ban period

Freeing farmers from intermediaries

New growth engine for economy

Blooming trade

Spot rubber prices improve

Nilgiri tea output up 20%

‘No stock limits for imported edible oils’

Turmeric futures hit lower circuit

Labour shortage hits wheat harvest operations