Centre Extends Stock Limits On Edible Oils And Oilseeds Till 30 June To Reduce Prices

In an effort to further cool down the prices of edible oils, the Central Government has issued an order specifying the stock limit quantities on edible oils and oilseeds upto 30 June, an official release said on Friday (4 February).

The government had earlier on 8 October last year notified the stock limits on edible oils and oilseeds through and order which is valid upto 31 March.

However, the quantities of stock limits of oils and oilseeds were left to be decided by the States and UTs on the basis of available stock and consumption pattern.

"On review of this order, it was observed that only six states -- Uttar Pradesh, Karnataka, Himachal Pradesh, Telangana, Rajasthan and Bihar -- had imposed the stock limit order in pursuance of the Central Order in their State," the Ministry of Consumer Affairs, Food and Public Distribution said in a release.

Since implementation of stock limits across all States and UTs is necessary to transfer the full benefit of price control to end consumers, the Central Government on Thursday (3 February) specified the quantities of stock limits of edible oils and oilseeds for all States and UTs, except the above mentioned six states, through an order, the ministry said.

According to the minsitry, this decision would empower the Central Government and all States and UTs to regulate storage and distribution of edible oils and oilseeds. This would also help the Government in checking hoarding of edible oils and oilseeds in the country, the ministry said.