Government announces Steps to Contain Price Rise in Essential Commodities
The Government has taken following steps recently to contain price rise in essential commodities:Reduced import duties to zero - for wheat, onion and pulses.
Banned 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).
Imposed stock limits from time to time in the case of select essential commodities such as pulses, edible oil, and edible oilseeds for a period up to 30.9.2014.
Suspended Futures trading in rice, urad and tur.
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 by the during the XII Five Year Plan. The mission envisages in increasing the production and productivity and bridge the gap between oilseed production and consumption.
This information was given by the Minister of State for Consumer Affairs, Food and Public Distribution, Shri Raosaheb Patil Danve.
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