The Government of India has taken several proactive steps in the last few months to stabilise the prices of edible oils in the country, including declaration of stocks by all stockholders of edible oils and oilseeds under the Essential Commodities Act (EC Act), 1955.
"The government has taken many measures. A recent step is that we have initiated an inspection drive from April 1 to curb hoarding and black marketing of edible oils and oilseeds," Food Secretary Sudhanshu Pandey told PTI.
For edible oils, the stock limit specified is 30 quintals for retailers, 500 quintals for wholesalers, 30 quintals for retail outlets of bulk consumers i.e. big chain retailers and shops and 1,000 quintals for its depots. Processors of edible oils would be able to stock 90 days of their storage capacities.
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