Govt imposes stock limit on pulses to check spike in prices

In a bid to check a spike in prices of tur and urad dal, the government on Friday imposed a stock limit on how much stock of the pulses can be held by millers, traders, retailers and importers.

In a statement, the department of consumer affairs said it as a move “to prevent hoarding and unscrupulous speculation” and said it was another step to “crackdown on prices of essential commodities”.

The retail price of the two pulses have shot up due to a projected fall in production during the current financial year, prompting the government to impose stock limits from Friday. “Under this order, stock limits have been prescribed for tur and urad until 31st October 2023 for all states and UTs,” the government said.

While wholesalers will be able to keep up to 200 MT, the limit for retailers has been fixed at 5 MT, and up to 200 MT at depots of large retail chains. Similarly, millers can maintain stocks equal to production for the previous three months or 25% of annual installed capacity. Importers have been told to ensure that they do not hold stocks beyond 30 days from the time a consignment is cleared by customs authorities.

This article has been republished from The Times of India