Govt imposes stock limits on soya meal for a period upto June 30, 2022

Govt imposes stock limits on soya meal for a period upto June 30, 2022

In a bid to cool down the domestic prices of soya meal, Government of India has issued an order by which it has imposed stock limits on soya meal for a period up to June 30, 2022. The Soya Meal Stock Control Order, 2021 has been issued with immediate effect i.e. from 23rd December, 2021. Under this order, 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 30th June, 2022 with 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.

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In case of stocks held by respective legal entities are higher than the prescribed limits then they shall declare the same on the portal of the Department of Food & Public Distribution and bring it to the prescribed stock limits within 30 days of the issue of this notification.

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 the Department of Animal Husbandry & Dairying and any follow-up action will be taken by the department.

The above measures are expected to stop any unfair practices like hoarding and black marketing in the market having the potential to hike the prices of soya meals. Consequently, the market price of soyabean oil will cool down.

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