New Delhi: The Central government has decided to impose stock limits on edible oil. The Consumer Affairs Ministry has also issued a notification in this regard on Saturday. The government has taken this step with the objective of controlling edible oil prices during the festive season. In fact, big festivals like Dussehra, Diwali are coming up in the coming days and edible oil prices have seen a jump of more than 50 per cent in the last year.
The government had earlier also taken several steps aimed at reducing edible oil prices. Import duty on edible oil reduced. At the same time, the government had also approved the import of several oils. But despite these steps, the prices of edible oil have not been affected much. Prices have fallen slightly, but these steps have not had any major impact. So the government has now taken this step. The central government has ordered states to impose stock limits on oil and oilseeds. At the same time, the Centre has asked the state governments to see that there is no more hoarding of oil in any place, which has led to a price rise.
The Centre has asked each state government to determine the limit of stock limit in their state depending on the supply. The Central Government has not set any limit on it and has left the decision entirely to the States, but the objective of the Government is clear. They want edible oil prices to be brought under control now, as it has risen much faster in the past.