New Delhi. The center imposed inventory restrictions on soybean meal on Friday until June 2022 to curb hoarding and curb price increases.
These restrictions will last until June 30, 2022, and orders in this regard have been issued, effective from December 23,
In addition, the government has notified an order in accordance with the Basic Commodity Law to amend the Schedule of the Basic Commodity Law of 1955 to declare “soybean meal” as a basic commodity until June 30, 2022.
Soybean meal processors, millers and factory owners can hold production inventory for up to 90 days, and they need to declare the storage location.
Government-registered trading companies, traders and private chaupals can hold up to 160 tons of inventory, and have clear and declared storage locations.
If legal entities hold stocks above the prescribed limit, they must declare on the portal of the Ministry of Food and reach the prescribed stock limit within 30 days of the notification.PTI