Uttar Pradesh becomes first state to impose stock limit on edible oils: Official

Speaking to ANI, Pandey said, “All the state governments are worried about increased oil prices. After the central government, the state governments have also started imposing stock limits on edible oil, so that people can be relieved during the festive season.”

“We had a discussion with 23 states on the topic today, out of which, Uttar Pradesh has become the first state to issue the notification of setting stock limits,” he said.

Apart from Uttar Pradesh, Haryana, Rajasthan, and Gujarat are also in the final stage of issuing this notification. He also informed that the process has started in nine other states too.

Talking about the purpose of this action, Pandey said, “The main purpose of this whole action is to give maximum relief to the needy consumers and no stakeholder should face losses. So, this is a very sensitive initiative, so state governments will take time to implement it.”

Pandey also said that the business groups should also take such steps which can benefit the consumers. “In the discussions held today, business groups also realised that the government has given a lot of facilities, so I think they (business groups) should also take such steps which can benefit the consumers,” he added.

He further hoped that the effects of setting stock limits on edible oils will be soon visible in the markets of Uttar Pradesh. “Due to COVID-19, oil production has decreased. But now, the situation is becoming normal, so I hope the prices will also come down. Its effects will be soon visible in the markets of Uttar Pradesh,” Pandey said.

Earlier this month, the Department of Food and Public Distribution has imposed stock limits on Edible Oils and Oilseeds to soften the prices of edible oils in the domestic market for a period up to March 31, 2022, informed the Ministry of Food and Public Distribution.

According to a statement issued by the ministry, the removal of licensing requirements, stock limits, and movement restrictions on specified foodstuffs (Amendment) Order, 2021 has been issued with immediate effect from 8th September 8, 2021.

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, the press statement said.