Centre issues order imposing stock limits on Soya meal to cool down domestic prices

The Government of India issued an order imposing stock limits on soya meal on Thursday for a period till June 30, 2022, in a bid to cool down the domestic prices of soya meal.

As per a release from the Ministry of Consumer Affairs, Food & Public Distribution, the stock limit has been set in consultation with the Department of Animal Husbandry & Dairying, Government of India.

The following stock limits have been promulgated:

All Soya Meal for a period up to June 30, 2022 with the following stock limits for all States and Union Territories;

-Plant/Miller/Processor: Maximum stock of 90 days production, as per daily input production capacity of Plant/Miller/Processor, defined in its IEM. The storage location should be declared.

-Trading company/Trader/Private Chaupals: Only Government registered enterprise, maximum stock of 160 MT with a defined and declared storage location.

In case of stocks held by respective legal entities are higher than the prescribed limits then they shall declare the same on the portal http://evegoils.nic.in/soya_meal_Stock/login of Department of Food & Public Distribution and bring it to the prescribed stock limits within 30 days of the issue of this notification, the release said.

It shall be ensured that Soya Meal stock is regularly declared and updated on the above portal. "The data on the portal will be regularly monitored by Department of Animal Husbandry & Dairying and any follow-up action will be taken by Department of Animal Husbandry & Dairying," added the release.

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 Soya Meal. Consequently, the market price of Soyabean Oil will cool down.

( With inputs from ANI )