The Centre’s decision will soften the prices of edible oils in the domestic market
The Department of Food and Public Distribution in a landmark decision has imposed stock limits on Edible Oils and Oilseeds for a period up to March 31, 2022.
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 September 8, 2021. Future trading on Mustard Oil and Oilseeds was suspended in NCDEX w.e.f October 8, 2021.
Under this order, the stock limit of all Edible Oils and Oilseeds will be decided on the basis of available stock and consumption pattern of the State/Union Territory with the following exceptions:
(a) an exporter, being a refiner, miller, extractor, wholesaler or retailer or dealer, having Importer-Exporter Code Number issued by the Director-General of Foreign Trade if such exporter is able to demonstrate that the whole or part of his stock in respect of edible oils and edible oilseeds are meant for exports, to the extent of the stock meant for export.
(b) an importer, being a refiner, miller, extractor, wholesaler or retailer or dealer, if such importer is able to demonstrate that part of his stock in respect of edible oils and edible oilseeds are sourced from imports.