Centre imposes stock limits on soyameal till June 2022 to check price rise
New Delhi Dec 24 PTI The Centre on Friday imposed stock holding limits on soyameal which is used as a raw material in the poultry feed industry till June 2022 to curb hoarding as well as check price rise The limits will be in place till June 30 2022 and an order in this regard was issued with effect from December 23 an official statement said Besides the government has notified an order under the Essential Commodities Act to declare soyameal as an essential commodity up to June 30 2022 by amending the Schedule of the Essential Commodities Act 1955 Soyameal processors millers and plant owners can hold a maximum stock of 90 days production and they are required to declare the storage location Government-registered trading companies traders and private chaupals can hold a maximum stock of 160 tonne with a defined and declared storage location If stocks held by legal entities are higher than the prescribed limits then they have to declare the same on the food ministrys portal httpevegoilsnicinsoyamealstocklogin and bring it to the prescribed stock limits within 30 days of the issue of the notification It should be ensured that soyameal stock is regularly declared and updated on the portal the statement said The data on the portal will be regularly monitored and any follow-up action will be taken by the Department of Animal Husbandry and Dairying The above measures are expected to stop any unfair practices like hoarding black marketing etc in the market having the potential to hike the prices of soyameal the statement said The stock limits have been set in consultation with the Department of Animal Husbandry and Dairying The notification of soyameal as an essential commodity would empower the Union government and all StatesUTs to regulate production and distribution of soyameal The move will help to curb unfair market practices and enhance the availability of the commodity for consumers like poultry farm and cattle feed manufacturers the statement said PTI LUX RAM
New Delhi Dec 24 PTI The Centre on Friday imposed stock holding limits on soyameal which is used as a raw material in the poultry feed industry till June 2022 to curb hoarding as well as check price rise The limits will be in place till June 30 2022 and an order in this regard was issued with effect from December 23 an official statement said Besides the government has notified an order under the Essential Commodities Act to declare soyameal as an essential commodity up to June 30 2022 by amending the Schedule of the Essential Commodities Act 1955 Soyameal processors millers and plant owners can hold a maximum stock of 90 days production and they are required to declare the storage location Government-registered trading companies traders and private chaupals can hold a maximum stock of 160 tonne with a defined and declared storage location If stocks held by legal entities are higher than the prescribed limits then they have to declare the same on the food ministrys portal httpevegoilsnicinsoyamealstocklogin and bring it to the prescribed stock limits within 30 days of the issue of the notification It should be ensured that soyameal stock is regularly declared and updated on the portal the statement said The data on the portal will be regularly monitored and any follow-up action will be taken by the Department of Animal Husbandry and Dairying The above measures are expected to stop any unfair practices like hoarding black marketing etc in the market having the potential to hike the prices of soyameal the statement said The stock limits have been set in consultation with the Department of Animal Husbandry and Dairying The notification of soyameal as an essential commodity would empower the Union government and all StatesUTs to regulate production and distribution of soyameal The move will help to curb unfair market practices and enhance the availability of the commodity for consumers like poultry farm and cattle feed manufacturers the statement said PTI LUX RAM
