Thursday, Jul 18 2024 | Time 10:20 Hrs(IST)
Business Economy

Stock limit imposed on Tur, Chana to check hoarding & prices

New Delhi, June 21 (UNI) The government Friday issued an order imposing stock limits till September 30 this year on specific pulses applicable to wholesalers, retailers, big chain retailers, millers and importers to prevent hoarding and check prices of essential commodities.
Under this order, stock limits have been prescribed for tur and chana, including kabuli chana, until September 30, 2024 for all States and Union Territories, an official statement from Ministry of Consumer Affairs, Food & Public Distribution said on Friday.
“In order to prevent hoarding and unscrupulous speculation, and also to improve affordability to the consumers in respect of tur and chana, Government of India has issued an order where it has imposed stock limits on pulses applicable to wholesalers, retailers, big chain retailers, millers and importers,” it said.
The Removal of Licensing Requirements, Stock Limits and Movement Restrictions on Specified Foodstuffs (Amendment) Order, 2024 has been issued with immediate effect from today i.e. June 21, 2024.
Under this order, stock limits have been prescribed for tur and chana, including kabuli chana, until September 30, 2024 for all States and Union Territories.
Stock limits applicable to each of the pulse individually will be 200 MT for wholesalers; 5 MT for retailers; 5 MT at each retail outlet and 200 MT at depot for big chain retailers; last 3 months of production or 25% of annual installed capacity, whichever is higher, for the millers.
In respect of importers, the importers are not to hold imported stock beyond 45 days from the date of Customs clearance.
The respective legal entities are to declare the stock position on the portal ( of Department of Consumer Affairs and in case the stocks held by them are higher than the prescribed limits then, they shall bring the same to the prescribed stock limits by 12th July, 2024.
The imposition of stock limits on tur and chana is a part of slew of measures taken by the Government to crackdown on prices of essential commodities.
The Department of Consumer Affairs had been closely monitoring the stock position of pulses through stock disclosure portal. The Department had, in first week of April, 2024 communicated State Governments to enforce mandatory stock disclosure by all stockholding entities, which was followed up with visits to major pulses producing States and trading hubs across the country from last week of April to May 10, 2024.
Separate meetings with traders, stockists, dealers, importers, millers and big chain retailers were also held to encourage and sensitize them for truthful disclosure of stocks and maintaining affordability of pulses for the consumers.
It may be recalled that the Government had reduced import duty of 66 per cent on desi chana w.e.f. May 4, 2024 in order to augment the domestic production. The duty reduction has facilitated imports and elicit higher sowing of chana in major producing countries.
As per report, chana production in Australia is estimated to increase from 5 lakh tons in 2023-24 to 11 lakh tons in 2024-25 which is expected to be available from October, 2024 onward.
Sowing of Kharif pulses like tur and urad are expected to increase significantly in this season due to high price realization by farmer and above-normal monsoon rains predicted by IMD.
Further, import of current year crop of tur from East African countries are expected to arrive from August, 2024 onward.
These factors are expected to help in bringing down the prices of Kharif pulses like tur and urad in the coming month. Arrival new crop of chana in Australia and its availability for import from October, 2024 will help in maintaining availability of chana to the consumers at affordable prices.
More News

Hinduja Tech inks pact to acquire TECOSIM Group, gains strategic foothold in Europe

17 Jul 2024 | 8:09 PM

Chennai, July 17 (UNI) Hinduja Tech Limited (HT), a mobility-focused global engineering R&D services company and a subsidiary of Ashok Leyland, the flagship of the multi-billion dollar conglomerate Hinduja Group, on Wednesday signed a definitive agreement to acquire TECOSIM Group to gain strategic foothold in Europe.

see more..
Onsitego launches Juice, a premium device accessories brand

Onsitego launches Juice, a premium device accessories brand

17 Jul 2024 | 7:43 PM

New Delhi, July 17 (UNI) Onsitego, India’s leading device care expert, has announced the pan-India launch of its device accessories brand, Juice. The brand aims to redefine elegance, performance, and sustainability in the mobile accessories market with products ranging from stylish power banks and case covers to functional adapters.

see more..

Norton Motorcycles celebrates beginning of new era with plans for global expansion

17 Jul 2024 | 6:39 PM

Kolkata, July 17 (UNI) Norton Motorcycles, part of the TVS Motor Company, has announced its investment and growth plans to put the company in the ideal place for international expansion.

see more..

Kiran Bedi unveils Eveready’s siren torch with safety alarm

17 Jul 2024 | 6:15 PM

Mumbai, Jul 17 (UNI) Eveready Industries India Ltd (EIIL), along with India’s first woman IPS officer Dr Kiran Bedi, unveiled a first-of-its-kind flashlight with safety alarm ​​-- an innovation empowering women’s safety.

see more..

Sanofi announces GCC expansion in Hyderabad; plans to invest INR 3,600 cr

17 Jul 2024 | 6:14 PM

Hyderabad, July 17 (UNI) Sanofi Healthcare India Pvt. Ltd. (SHIPL) on Wednesday announced the expansion of its Global Capacity Centre (GCC) in Hyderabad, with plans to invest €400 million ( INR 3,600 cr) over the next six years, with €100 million (INR 900 Cr) by 2025.

see more..