Sunday, Oct 24 2021 | Time 18:01 Hrs(IST)
image
Business EconomyPosted at: Oct 24 2021 5:45PM


Centre to review on Monday actions taken by states on the stock limit order on edible oils

New Delhi, Oct 24 (UNI) With high edible oil prices continuing to pinch consumers in the festive season, the Department of Food and Public Distribution (DFPD) will hold a meeting with states on Monday to review the actions taken on the stock limit order on the key kitchen item.

Besides suggesting a slew of measures to calm down prices, the Centre this week directed states to prohibit millers, whole-sellers, refiners and other stakeholders from holding the stocks of edible oil in excess of two months of the storage capacity.

"The DFPD is monitoring the prices of edible oils and their availability to consumers. This is especially important in the context of the upcoming festival season in which the demand for edible oils will increase," said an official statement from DFPD.

It noted that various steps have already been taken by the government like based on the interaction with all the states and edible oil industry associations, stock disclosure notification has been issued and DFPD has created a web portal to monitor the stock of edible oils/oilseeds on a weekly basis in the country.

"Demand and consumption of edibles are different for the different states/UTs as per the preference of the consumers. However, for finalizing the stock limit quantity of edible oils and oilseeds, the states/UTs may consider/explore the previous stock limit imposed for edible oils and oilseeds by the state/UTs. It may be considered that any stakeholder (refiners, miller, wholesalers etc.) should not hold the stocks in excess of two months of the storage capacity," the DFPD told states this week in a letter.

For guidance, it stated, states may prefer to indicative limits which may have been imposed by them earlier.

"However, for other categories similar quantities as appropriate for the state may be fixed. For example: for refiners, stocks of the maximum of 2 months of the average sale of the last six months could be used. Similarly, quantities may be fixed for extractors/millers, it said.

UNI NK SHK1745
Tags: #Centre to review on Monday actions taken by states on the stock limit order on edible oils
More News
Engineering goods exports cross US$ 9 billion for third month in a row in September

Engineering goods exports cross US$ 9 billion for third month in a row in September

24 Oct 2021 | 5:39 PM

New Delhi, Oct 24 (UNI) Engineering goods shipments crossed US$ 9 billion for the third month in a row in September with 22 out of 25 top export destinations such as China, UK and UAE recording positive growth, EEPC India has said.

see more..
CAIT says govt departments failed to act against Amazon, vows to take up the issue with PM

CAIT says govt departments failed to act against Amazon, vows to take up the issue with PM

24 Oct 2021 | 5:27 PM

New Delhi, Oct 24 (UNI) Delhi-based Confederation of All India Traders (CAIT) on Sunday said that government departments had failed to act against foreign funded e-commerce firms skirting FDI rules.

see more..
Defence forces have placed orders to buy drones worth over Rs 500 crore: PM

Defence forces have placed orders to buy drones worth over Rs 500 crore: PM

24 Oct 2021 | 1:31 PM

New Delhi, Oct 24 (UNI) Defence forces have placed orders worth over Rs 500 crore to buy drones from local companies, giving a major push to indigenous drone technology, Prime Minister Narendra Modi said on Sunday.

see more..
PM advises shoppers to promote local products, shun single-use plastics

PM advises shoppers to promote local products, shun single-use plastics

24 Oct 2021 | 12:44 PM

New Delhi, Oct 24 (UNI) Prime Minister Narendra Modi on Sunday once again urged people to buy local products while shopping during the festive season.

see more..
Fuel prices hit fresh all time high

Fuel prices hit fresh all time high

24 Oct 2021 | 12:17 PM

New Delhi, Oct 24 (UNI) Fuel prices hit a fresh all time high as oil marketing companies increased prices of petrol and diesel on Sunday.

see more..
image