Stock limits for edible oils notified
The Department of Food and Public Distribution on 10 October 2021 said it has decided to impose stock limits on edible oils and oilseeds upto 31 March 2022. This decision has been taken to soften the prices of edible oils in the country and provide relief to consumers.
Under this order
- 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.
- 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.
- 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 parts of their stocks are sourced for imports will be exempted.
- 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.