The Centre on Friday imposed stock holding limits on soya meal, 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 ‘soya meal’ as an essential commodity up to June 30, 2022 by amending the Schedule of the Essential Commodities Act, 1955.
Soya meal 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 ministry’s portal and bring it to the prescribed stock limits within 30 days of the issue of the notification.
It should be ensured that soya meal 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 soya meal,” the statement said.
The stock limits have been set in consultation with the Department of Animal Husbandry and Dairying.
The notification of soya meal as an essential commodity would empower the Union government and all States/UTs to regulate production and distribution of soya meal.
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.