New Delhi, Sep 25 (IANS): The government has extended, from October 30 to December 31, the time period for existing stock limits for tur and urad dals under the Essential Commodities Act, 1955.

It has also revised the stock holding limits for certain stockholding entities.

As per the notification issued on Monday, the limit for stock with wholesalers and also big chain retailers at depot has been reduced from 200 MT to 50 MT, and the limit for millers has been reduced from last 3 months production or 25 per cent of annual capacity, whichever is higher to last one month production or 10 per cent of annual capacity, whichever is higher.

The revision in stock limits and extension of the time period is to prevent hoarding and elicit the continuous release of tur and urad in sufficient quantities to the market and make tur dal and urad dal available at affordable prices for the consumers, official sources said.

As per the latest order, stock limits have been prescribed for tur and urad until December 31 for all states. Stock limits applicable to each of the pulse individually will be 50 MT for wholesalers, 5 MT for retailers, 5 MT at each retail outlet and 50 MT at depot for big chain retailers, and last one month of production or 10 per cent of annual installed capacity, whichever is higher, for the millers.

Importers are not to hold imported stock beyond 30 days from the date of customs clearance.

The respective legal entities are to declare the stock position on the portal of the consumer affairs ministry's portal and in case the stocks held by them are higher than the prescribed limits then, they shall bring the same to the prescribed stock limits within 30 days of issue of the notification, an official statement said.

The government had, on January 2, issued stock limit notification for tur and urad in order to prevent hoarding and unscrupulous speculation and also to improve affordability to the consumers.