Govt imposes stock limits on pulses till Oct 31 to check price rise

To prevent hoarding and check price rise, the Centre on Friday imposed stock limits on all pulses except moong held by wholesalers, retailers, importers and millers till October 31.

The stock limits are imposed with immediate effect. An order in this regard has been issued by the Union Food and Consumer Affairs Ministry.

The stock limit of 200 tonnes has been imposed on wholesalers provided they do not hold more than 200 tonne of one variety of pulses, the ministry said in the order.

On retailers, the stock limit will be 5 tonne.

In case of millers, the stock limit will be the last three months of production or 25 per cent of annual installed capacity, whichever is higher.

Lastly, for importers, the stock limit will be the same as that of wholesalers for stocks held/imported prior to May 15, 2021.

And for pulses imported after May 15, stock limit applicable on wholesalers will apply after 45 days from date of customs clearance, the order said.

According to the ministry, if the stocks of entities exceed the prescribed limits, they have to be declared on the online portal of the Department of Consumer Affairs and have to be brought within the prescribed limit within 30 days of the notification of the order.

The ministry said there was a sustained increase in the price of pulses in March-April. The need for an urgent policy decision was felt to send the right signal to the market.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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