Centre exempts wholesalers and big retailers from stockholding limits on edible oils and oilseeds

The Center today issued a notice exempting wholesalers and large retailers of oilseeds and edible oils from the current Stock Limitation Ordinance.

The storage limit order was imposed last October due to rising cooking oil prices in both the international and domestic markets. It was then extended to June 30, 2022 and further extended to December 31, 2022.

In a press release, the Consumer Ministry said that recently there had been “a significant drop in the price of cooking oil, both in the international market and in the domestic market”.

“The need to exempt large retailers and wholesalers from the stock control order was felt as reports were received that wholesalers and large retail chains were facing problems in their sales due to the control order due to the very low limits set for them and replacement of shelf stock in the urban area is not possible every day,” the press release continues.

The order takes effect immediately.

“Removing wholesalers and large retailers from the stock limit would allow them to keep different grades and brands of cooking oils that they are currently unable to keep due to the stock control regulation,” the statement added.

India is the world’s largest importer of edible oils such as palm oil, soybean oil and sunflower oil.

https://economictimes.indiatimes.com/industry/services/retail/india-exempts-wholesalers-and-big-retailers-from-stockholding-limits-on-edible-oils-and-oilseeds/articleshow/95237206.cms Centre exempts wholesalers and big retailers from stockholding limits on edible oils and oilseeds

Russell Falcon

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