Central government to reduce edible oil prices

The central government has taken a big decision to reduce the price of edible oil. In an order issued by the central government on Thursday, it has decided to limit stocks of edible oil and oilseeds in the entire country except six states. As per the government order, the limit on stocks will remain till June 30, 2022. Last year, prices of edible oils and oilseeds rose sharply. Therefore, its effect on the general public was seen. 

In view of the rising rates, the central government has taken such a decision in the last week to provide relief to the common man. The central government has said that the order has been implemented immediately and this limit imposed on the stock will continue till June 30, 2022. Retailers cannot stock more than 30 quintals of edible oil and 100 quintals of edible oilseeds. In addition, stocks of 500 quintals of edible oil and 2000 quintals of edible oilseeds have been fixed for wholesalers. Retailers can store up to 30 quintals of edible oil in their shops and up to 1000 quintals of edible oil in depots.

Some states have been given special concessions in this decision of the Central Government, which means that reserves can be exceeded here. However, they will have to abide by the stock limits fixed by the state government. Exempted states include Uttar Pradesh, Karnataka, Himachal Pradesh, Telangana, Rajasthan and Bihar. In addition, such exporters, refiners, millers, extractors, wholesalers and dealers who have import-export code numbers are exempted. However, they have to prove whether the stock is for export or has been received from imports.