Govt imposes stock holding limits on soymeal till June 2022 to tame prices

Soymeal millers, processors can hold stocks only up to their 90 days of production, says circular.

After clamping down on futures trading in a host of agricultural commodities and extending the deadline for free pulses import till March 2022, the Centre on Thursday imposed stock-holding limits on soymeal in a bid to control prices.

In a circular, the department of consumer affairs, food and public distribution said soymeal millers, processors or plants can hold stocks only up to 90 days of production.

Traders and trading companies can hold only up to 160 tonnes of soymeal with a defined and declared storage location. The stock-holding limits will be in place till June 30, 2022, according to the official circular.