Amendment done in the Schedule of the Essential Commodities Act, 1955 to declare ‘Soya Meal’ as an Essential Commodities. The Soya Meal Stock Control Order, 2021 has been issued.
In a bid to cool down the domestic prices of Soya Meal, Government of India has issued an Order by which it has imposed stock limits on Soya Meal for a period upto 30th June, 2022.
Earlier the Government notified an Order under the Essential Commodities Act to declare ‘Soya Meal’ as an Essential Commodities up to 30th June, 2022 by amending the Schedule of the Essential Commodities Act, 1955. Government of India has issued a landmark Order where it has mentioned that in the Essential Commodities Act, 1955, in the Schedule, after serial No. (8), the following item shall be added, “(9) Soya Meal”.
It is believed that the decision would empower the Union Government and all States/UTs to regulate production, distribution etc. of Soya Meal and to smoothen the sale and availability of this item in the market. It will stop unfair market practices and enhance the availability for consumers like Poultry farm and Cattle feed manufacturers.
The Soya Meal Stock Control Order, 2021 has been issued with effect from 23rd December, 2021. Under this Order, the stock limit has been set in consultation with the Department of Animal Husbandry & Dairying, Government of India.
The following stock limits have been promulgated:
- All Soya Meal for a period upto 30th June, 2022 with following stock limits for all States and Union Territories;
- Plant/Miller/Processor: Maximum stock of 90 days production, as per daily input production capacity of Plant/Miller/Processor, defined in its IEM. The storage location should be declared.
- Trading company/Trader/Private Chaupals: Only Government registered enterprise, maximum stock of 160 MT with a defined and declared storage location.
In case of stocks held by respective legal entities are higher than the prescribed limits then they shall declare the same on the portal http://evegoils.nic.in/soya_meal_Stock/login of Department of Food & Public Distribution and bring it to the prescribed stock limits within 30 days of the issue of this notification.
It shall be ensured that Soya Meal stock is regularly declared and updated on the above portal. The data on the portal will be regularly monitored by Department of Animal Husbandry & Dairying and any follow-up action will be taken by Department of Animal Husbandry & Dairying.
The above measures are expected to stop any unfair practices (like hoarding, black marketing, etc.) in the market having the potential to hike the prices of Soya Meal. Consequently the market price of Soyabean Oil will cool down.
Source: Press information bureau, Government of India