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LATEST NEWS UPDATES | Centre imposes stock limits on edible oils to curb price surge

Centre imposes stock limits on edible oils to curb price surge

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published Published on Oct 11, 2021   modified Modified on Oct 11, 2021

-Livemint.com

* This decision will soften the prices of edible oils in the domestic market

* The high prices of edible oil in international market has a substantial impact on the domestic edible oil prices

In a landmark decision, the Department of Food and Public Distribution has imposed stock limits on Edible Oils and Oilseeds for a period upto 31st March, 2022.

In a release the department said, 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 8th September, 2021. Future trading on Mustard Oil and Oilseeds was suspended in NCDEX w.e.f 8 October, 2021.

This decision will soften the prices of edible oils in the domestic market. The high prices of edible oil in international market has a substantial impact on the domestic edible oil prices.

The release said, under the visionary leadership of PM Narendra Modi, Government 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.

Please click here to read more. 


Livemint.com, 11 October, 2021, https://www.livemint.com/news/india/centre-imposes-stock-limits-on-edible-oils-to-bring-down-prices-11633856141849.html


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