States have been asked to maintain stock limit of edible oils to soften their prices
To bring down the rising prices of edible oils during the ongoing festival season, the department of food and public distribution undertook a meeting with all the states on Monday, asking them to maintain stock limit of the commodity.
The department sought details of action plans taken by the states to maintain stock limits and declaration of excess stock.
Senior ministry officials said that the stock limit order should be issued by the states as soon as possible in order to soften the prices of edible oils in the country.
Uttar Pradesh government representatives in the meeting informed that the state has already issued a stock limit order on October 12 which will considerably bring the prices of edible oils down.
However several states like Rajasthan, Gujarat and Haryana have submitted proposals for the stock limit order with their respective governments for approval and expect imposition of stock limits anytime soon.
Other states like Maharashtra, Kerala, Andhra Pradesh, Tamil Nadu, Chhattisgarh and Jharkhand among others have initiated the process of fixing stock limits for edible oils and will soon notify relevant limits for different categories.
The Centre, in its order earlier had directed that the states should ensure that complete benefit of duty reduction is passed on to the customers, to insulate them from high prices of edible oils during the ongoing festival season.
For all the latest business News Click Here
