Cabinet may discuss stock holding limit on agri-items on Sep20

The Cabinet is likely to consider this Friday a proposal to extend stock holding limit on pulses, edible oils and oilseeds for one more year to ensure their availability and check prices.

The validity of the current stock holding limits order with respect to these items is expiring on September 30.

"The Cabinet meeting is scheduled on September 20. The proposal to extend the validity of stock holding limits order is on the agenda," an highly placed source said.

The proposal moved by the Food and Consumer Affairs Ministry has recommended extension of stock holding limits order on pulses, edible oils and oilseeds for one more year till September 30, 2014.

The objective of the Central order is to enable state governments to continue taking effective de-hoarding operations under the Essential Commodities Act, 1955 by fixing stock limits.

The stock holding limit has helped in controlling prices of pulses and edible oils in various parts of the country. For instance in the national capital, retail price of gram, tur and urad have come down by upto Rs 15 per kg in the last one year.

Presently, retail prices of various pulses in Delhi are ruling in range of Rs 54-79 per kg, while prices stood in the range of Rs 62-78 per kg in the year-ago period.

Groundnut oil at present is available at Rs 167 per kg and mustard oil at Rs 100 per kg.

The country is dependent on import of pulses and edibles oils to meet domestic shortages. Production of these two commodities are expected to be higher in the kharif season of the current year due to strong monsoon.