Centre caps tur and urad dal stocks to prevent hoarding, speculation

Stock limits are consistent with government efforts to reduce the inflation of essential commodities (File used for representation purpose only)
| Photo Credit: The Hindu

The Centre has imposed stock limits on tur dal and urad dal to prevent hoarding and speculation, and also to improve affordability. According to the Ministry of Consumer Affairs, Food and Public Distribution, these stock limits on the pulses are applicable to wholesalers, retailers, big chain retailers, millers and importers with immediate effect and will be applicable till October 31 this year.

“Under this order, stock limits have been prescribed for tur and urad until 31st October 2023 for all states and Union Territories,” Consumer Affairs Secretary Rohit Kumar Singh said.

According to the statement released on June 2 night, stock limits applicable to each of the pulse individually will be 200 MT for wholesalers; 5 MT for retailers; 5 MT at each retail outlet and 200 MT at the depot for big chain retailers; last three months of production or 25% of annual installed capacity, whichever is higher, for the millers. Importers are not to hold stock beyond 30 days from the date of customs clearance.

Also Read |India working to rein in inflation: Finance Minister Nirmala Sitharaman

The statement further detailed that the respective legal entities are to declare the stock position on the portal of the Department of Consumer Affairs and, in case the stocks held by them are higher than the prescribed limits then, they shall bring the same to the prescribed stock limits within 30 days of issue of the notification.

The Ministry stated that the imposition of stock limits on tur and urad is another step in the consistent efforts taken by the government to reduce the inflation of essential commodities.

The Department of Consumer Affairs had been closely monitoring the stock position of tur and urad through the stock disclosure portal which has been reviewed on a weekly basis with the state government.

Extensive interactions with various stakeholders such as importers, millers, and retailers had been held to ensure disclosure of stocks, including visits by senior officers to the states of Karnataka, Madhya Pradesh, Maharashtra and Tamil Nadu to assess the ground situation, according to the Ministry’s statement.

For all the latest business News Click Here 

Read original article here

Denial of responsibility! TechAI is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.