Centre exempts wholesalers and big retailers from stockholding limits on edible oils and oilseeds
The stock limit order was imposed last October due to increasing prices of edible oils both in international as well as domestic market. It was then extended upto 30th June, 2022 and further extended upto 31.12.2022.
In a press release, the Ministry of Consumer Affairs said that in recent times there is “considerable decline in the prices of edible oil in the international market as well as the domestic market”.
“A need was felt for exempting big chain retailers and wholesalers from the stock control order as reports were coming that Wholesalers and big chain retail outlets were facing problems in their sale due to the Control Order as the limits specified for them was very less and replacement of shelf stocks in city limits is not possible on everyday basis,” the press statement added.
The order will come into effect immediately.
“The removal of wholesalers and big chain retailers from the stock limit order would allow them to keep various varieties and brands of edible oils, which they are unable to keep at present due to stock control order,” the statement further added.
India is the world’s biggest importer of edible oils such as palm oil, soyoil and sunflower oil.
