Government imposes stock limits on tur, urad dal till October to check hoarding

Government imposes stock limits on tur, urad dal till October to check hoarding

2 Jun    Economy, Finance News

The government on Friday imposed stock limits on tur and urad dals held by wholesalers, retailers, importers and millers till October to prevent hoarding and check price rise. An order in this regard was issued with immediate effect by the Union Food and Consumer Affairs Ministry.

All India average retail price of tur has increased by 19 per cent to 122.68 per kg on June 2, from 103.25 per kg a year ago. Similarly, the average retail price of urad has increased by 5.26 per cent to Rs 110.58 per kg from Rs 105.05 in the said period, as per the data maintained by the ministry. “Under this order, stock limits have been prescribed for tur and urad until 31st October 2023 for all States and Union Territories,” Consumer Affairs Secretary Rohit Kumar Singh told PTI.

According to the order, a stock limit of 200 tonnes each has been imposed on tur and urad for wholesalers, 5 tonnes each for retailers and retail outlets, and 200 tonnes at the depot for big chain retailers.In the 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. Whereas importers are not allowed to hold stock beyond 30 days from the date of customs clearance, an official statement.

The ministry has asked the respective legal entities to declare the stock position on the portal of the Department of Consumer Affairs and in case, the stocks held by them are higher than the prescribed limits, then they will have to bring down the same to the prescribed stock limits within 30 days after the notification issued.The imposition of stock limits on tur and urad is another step in the consistent efforts taken by the government to crack down on the prices of essential commodities.The Department of Consumer Affairs has been closely monitoring the stock position of tur and urad through a stock disclosure portal — reviewed on a weekly basis with state governments.

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Extensive interactions with various stakeholders like importers, millers, and retailers were held to ensure the disclosure of stocks, including visits by senior officers to Karnataka, Madhya Pradesh, Maharashtra and Tamil Nadu to assess the ground situation.The country’s tur production is pegged lower at 3.43 million tonnes in the 2022-23 crop year (July-June) against 4.22 million tonnes in the previous year, while urad output is estimated to be down at 2.61 million tonnes from 2.77 million tonnes, as per the third estimated of the agriculture ministry.

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