HomeENGLISHCentre imposes stock limits on edible oils to soften prices in domestic...

Centre imposes stock limits on edible oils to soften prices in domestic market

NEW DELHI: The Department of Food and Public Distribution in a landmark decision has imposed stock limits on Edible Oils and Oilseeds for a period upto March 31st , 2022.

The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2021 has been issued with immediate effect i.e. from September 8th, 2021.Future trading on Mustard Oil and Oilseeds was suspended in NCDEX w.e.f October 08, 2021.

The Centre’s decision will soften the prices of edible oils in the domestic market, thereby, bringing great relief to consumers across the country.

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The high prices of edible oil in international market has a substantial impact on the domestic edible oil prices.Under the visionary leadership of PM Narendra Modi, Govt. of India has formulated a multi-pronged strategy to ensure that the prices of essential commodities like edible oils remain controlled. Measures like rationalization of import duty structure, launching of a web-portal for self-disclosure of stocks held by various stakeholders etc. had already been taken.

In a consistent effort to further cool down the domestic prices of Edible Oils, the Centre has issued the order which was shared with all States.

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