Edible oil traders protested the Union government’s decision to impose a limit on edible oil and seed stocks. The traders called the movement “illogical” when Deepawali is on its way and the movement would only become a tool for harassment of traders.
Because of the upcoming holiday season earlier this month the Department of Public Distribution asked state governments to issue Order stock limits in their respective jurisdictions based on requirements and availability of edible oils and oil seeds.
The Union Government has also asked the states to update stocks of edible oil on its portal every week. However, states were still deliberating on the proposal.
In this regard, Shankar Thakkar, president of All India Edible Oil Traders’ Federation, has said that the decision of stock limit when the festival season has already started, was not logical and would further worsen the supplies of edible oil in the market.
“As edible oil traders, we don’t know what to do next. What will be the stock limit and what will we do with it if the edible oil stock will be above the limit,” he said.
Thakkar has added that due to uncertainty in a stock limit order, many traders are already limiting their stocks which can hamper the supplies in festive season. The Government should have prepared for the festival season in advance by at least a few months, felt edible oil traders, as India imports around 70% of edible oil.