In an attempt to put a check on hoarding and artificially raising prices of edible oil, the Uttar Pradesh government has issued notification for setting the stock limits for different categories like retailers, wholesalers, bulk consumers, and refiners.
Acknowledged by the Centre on being the first State to take such step, the Secretary, Food and Public Distribution Department, Government of India Sudhanshu Pandey said, “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.”
On Saturday, Chief Minister Yogi Adityanath had ordered stern action against unscrupulous elements involved in profiteering, hoarding, and artificial price-rise to ensure the availability of food items to people at officially prescribed rates during the festival.
Pandey also informed that Haryana and Gujarat are also in the final stage of issuing this notification. The process has started in nine other States too.
The Uttar Pradesh government has imposed stock limits in the range of 1 to 25 tonnes for different stakeholders and the same was notified on October 12.
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 had 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.
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