In a bid to check on unfair practices and to bring transparency in the availability of edible oils, Secretary Food and Public Distribution on Friday had a virtual meeting with state government officials on the new stock disclosure norms.
The Central government has asked states to direct stockists, traders, wholesalers, refiners to make declarations regarding their stocks of edible oils and oilseeds for better monitoring and to deter unfair practices and hoarding. The government believes this will also bring transparency in the availability of edible oils.
In a statement, Food Secretary Sudhanshu Pandey said that the production of oilseeds is expected to increase in the coming Rabi season. This is also expected to bring down the prices of edible oils
“Stockists and millers are now expected to disclose the stock of edible oilseeds and oils and submit the data on a portal for transparency and better monitoring.
Stockists and Millers would also need to display the prices of edible oil at the premises,” an official statement added.