Steps to contain price rise in essential commodities
Updated: Jul 08, 2014 03:19:43pm
New Delhi, Jul 8 (KNN) The Government has taken various steps recently to contain price rise in essential commodities such as reducing import duties to zero for wheat and onion, banning export of edible oils and imposing stock limits on certain essential commodities.
Among the initiatives taken to control prices are reducing of import duty to zero for wheat, onion and pulses; banning of export of edible oils (except coconut oil, forest based oil and edible oils in blended consumer packs up to 5 kg with a Minimum Export Price of USD 1500 per MT) and pulses (except Kabuli chana and organic pulses and lentils up to a maximum of 10000 tonnes per annum), Minister of State for Consumer Affairs, Food and Public Distribution, Raosaheb Patil Danve said in Lok Sabha today.
The government has also imposed stock limits from time to time in the case of select essential commodities such as pulses, edible oil, and edible oilseeds up to September-30; and suspended futures trading in rice, Urad and Tuvar dhal.
Further, in order to enhance the production and productivity of oilseeds and thereby edible oil, a National Mission on Oilseed and Oil Palm (NMOOP) is being implemented during the XII Five Year Plan. The mission envisages increasing production and productivity and bridging the gap between oilseed production and consumption.
The Government has also been regularly issuing advices to States for taking effective steps against speculative hoarding under Essential Commodities Act, 1955 and Prevention of Black marketing Maintenance of Supplies of Essential Commodities Act, 1980, Danve said. (KNN/ES)
Among the initiatives taken to control prices are reducing of import duty to zero for wheat, onion and pulses; banning of export of edible oils (except coconut oil, forest based oil and edible oils in blended consumer packs up to 5 kg with a Minimum Export Price of USD 1500 per MT) and pulses (except Kabuli chana and organic pulses and lentils up to a maximum of 10000 tonnes per annum), Minister of State for Consumer Affairs, Food and Public Distribution, Raosaheb Patil Danve said in Lok Sabha today.
The government has also imposed stock limits from time to time in the case of select essential commodities such as pulses, edible oil, and edible oilseeds up to September-30; and suspended futures trading in rice, Urad and Tuvar dhal.
Further, in order to enhance the production and productivity of oilseeds and thereby edible oil, a National Mission on Oilseed and Oil Palm (NMOOP) is being implemented during the XII Five Year Plan. The mission envisages increasing production and productivity and bridging the gap between oilseed production and consumption.
The Government has also been regularly issuing advices to States for taking effective steps against speculative hoarding under Essential Commodities Act, 1955 and Prevention of Black marketing Maintenance of Supplies of Essential Commodities Act, 1980, Danve said. (KNN/ES)
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