Policy

Centre notifies stock limits for edible oils and oilseeds

Our Bureau New Delhi | Updated on October 10, 2021

States to decide on stock limits

The Department of Food and Public Distribution on Sunday said it has decided to impose stock limits on edible oils and oilseeds upto March 31, 2022. This decision has been taken to soften the prices of edible oils in the country and provide relief to consumers.

The Ministry said that the stock limits will be decided by the respective state governments depending on local conditions. It has however decided to give 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 respective States Government/Union Territories Administration on the basis of available stock and consumption pattern of the State/Union Territory,” it said.

The order added that exporters (being a refiner, miller, extractor, wholesaler or retailer or dealer), having importer-exporter code number, will be exempted from the stock limits, if they can demonstrate that the whole or part of their stocks are meant for exports. Similarly, importers who demonstrate that the whole or part of their stocks are sourced for imports will be exempted.

“In case, the stocks held by respective legal entities are higher than the prescribed limits then they shall declare the same on the portal of Department of Food & Public Distribution and bring it to the prescribed stock limits as decided by the State/UT administration where it is conducting its business, within 30 days of the issue of such notification by the said authorities,” the order added.

All the state governments and UT administrations have been directed to set the stock limits and also have been asked to ensure that information about stocks of edible oils and oilseeds are declared regularly on the Food Department’s portal.

The Central government has taken several steps in recent times such as import duty rationalisation and launching a web portal for self-disclosure of stocks held by various stakeholders, to tackle the challenge of high edible oil prices in the country.

Published on October 10, 2021

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