Anti-hoarding act witnesses revival, stock limit enforced
Saturday, 7 May 2011
Sonia H Moni
The government has revived the anti-hoarding act with a view to reining in commodity prices and storage of food items for an indefinite period, officials said. Food and disaster management minister Abdur Razzaque told the FE, "The government has fixed the stock ceiling and timeframe for storing some essential commodities and for tackling disaster-period crisis through reintroducing the anti-hoarding act." "Bangladesh is a disaster-prone country and we have to be prepared for ensuring food security for calamity-hit people. The anti-hoarding law will help tackle these sorts of emergencies," he said. In this regard, the food and disaster management ministry issued a Statutory Regulatory Order (SRO) on the ceilings and timeframes for stocking of rice, wheat, edible oil, pulses and sugar last week. Among the five items, oil, pulses and sugar have been declared as food stuff. The government has reintroduced the anti-hoarding law, the East Bengal (Food stuffs) Price Control and Anti-Hoarding Order, 1956 by annulling an executive order issued in 1991 by the BNP-led government, which made the law ineffective. Director General of the Food Directorate Ahmed H Khan said, "We have seen a tendency of the wholesalers and retailers to store food stuff for an indefinite period and sell those later and create artificial crises. To stop this trend and rein in the commodity prices, we have decided to act." He said, "The businessmen at retail, wholesale, millers and import levels have to follow the anti-hoarding law and the concerned officials will monitor it. If anyone violates the rules and regulations, they will be punished as per law." According to the SRO, at the wholesalers' level, now a businessman can store 300 tonnes of rice or paddy for maximum 30 days and 200 tonnes of wheat for 30 days and 50 tonnes of sugar for 30 days and 40 tonnes of pulses for 30 days. The ceiling and timeframe for hoarding purified soya bean oil has been fixed at 30 tonnes for 30 days, while for purified palm oil it has been fixed at 30 tonnes for 30 days at wholesalers' level. At the retailers' level, a businessman can stock 15 tonnes of rice or paddy for 15 days, 10 tonnes of wheat for 15 days, five tonnes of sugar for 20 days and five tonnes of pulses for 20 days. A businessman can stock five tonnes of purified soya bean oil for 20 days and five tonnes of purified palm oil for 20 days at retailers' level. An importer will be able to store the total imported rice or wheat for 30 days, 50 per cent of imported sugar for 40 days and less than 25 per cent pulses for 60 days. At the same time, an importer can store 25 per cent of imported purified soya bean oil and less than 25 per cent of imported palm oil for 60 days. As per the SRO, the traders, importers and millers should submit their food grain stocks and data of sales to the Directorate of Food offices every 15 days. Meanwhile, a food importer has to pay Tk 10,000 as licence fee and Tk 5,000 as its yearly renewal fee and Tk 2,000 for the duplication of a licence. The fees for licence and renewal and duplication are Tk 5000, Tk 2,000 and Tk 1,000 for a wholesaler and Tk 1000, Tk 500 and Tk 200 for a retailer. The licence fee, renewal fee and duplication fee are Tk 5000, Tk 2500 and Tk 100 for an automatic rice mill, Tk 1000, Tk 500 and Tk 200 for a roller flour mill or a husking rice mill and Tk 500 and Tk 300 for a wheel flour mill. The three fees are Tk 2000, Tk 1000 and Tk 400 for a major and compact flour mill, and Tk 600, Tk 300 and Tk 120 for dealers pursuing open market sales (OMS).
The government has revived the anti-hoarding act with a view to reining in commodity prices and storage of food items for an indefinite period, officials said. Food and disaster management minister Abdur Razzaque told the FE, "The government has fixed the stock ceiling and timeframe for storing some essential commodities and for tackling disaster-period crisis through reintroducing the anti-hoarding act." "Bangladesh is a disaster-prone country and we have to be prepared for ensuring food security for calamity-hit people. The anti-hoarding law will help tackle these sorts of emergencies," he said. In this regard, the food and disaster management ministry issued a Statutory Regulatory Order (SRO) on the ceilings and timeframes for stocking of rice, wheat, edible oil, pulses and sugar last week. Among the five items, oil, pulses and sugar have been declared as food stuff. The government has reintroduced the anti-hoarding law, the East Bengal (Food stuffs) Price Control and Anti-Hoarding Order, 1956 by annulling an executive order issued in 1991 by the BNP-led government, which made the law ineffective. Director General of the Food Directorate Ahmed H Khan said, "We have seen a tendency of the wholesalers and retailers to store food stuff for an indefinite period and sell those later and create artificial crises. To stop this trend and rein in the commodity prices, we have decided to act." He said, "The businessmen at retail, wholesale, millers and import levels have to follow the anti-hoarding law and the concerned officials will monitor it. If anyone violates the rules and regulations, they will be punished as per law." According to the SRO, at the wholesalers' level, now a businessman can store 300 tonnes of rice or paddy for maximum 30 days and 200 tonnes of wheat for 30 days and 50 tonnes of sugar for 30 days and 40 tonnes of pulses for 30 days. The ceiling and timeframe for hoarding purified soya bean oil has been fixed at 30 tonnes for 30 days, while for purified palm oil it has been fixed at 30 tonnes for 30 days at wholesalers' level. At the retailers' level, a businessman can stock 15 tonnes of rice or paddy for 15 days, 10 tonnes of wheat for 15 days, five tonnes of sugar for 20 days and five tonnes of pulses for 20 days. A businessman can stock five tonnes of purified soya bean oil for 20 days and five tonnes of purified palm oil for 20 days at retailers' level. An importer will be able to store the total imported rice or wheat for 30 days, 50 per cent of imported sugar for 40 days and less than 25 per cent pulses for 60 days. At the same time, an importer can store 25 per cent of imported purified soya bean oil and less than 25 per cent of imported palm oil for 60 days. As per the SRO, the traders, importers and millers should submit their food grain stocks and data of sales to the Directorate of Food offices every 15 days. Meanwhile, a food importer has to pay Tk 10,000 as licence fee and Tk 5,000 as its yearly renewal fee and Tk 2,000 for the duplication of a licence. The fees for licence and renewal and duplication are Tk 5000, Tk 2,000 and Tk 1,000 for a wholesaler and Tk 1000, Tk 500 and Tk 200 for a retailer. The licence fee, renewal fee and duplication fee are Tk 5000, Tk 2500 and Tk 100 for an automatic rice mill, Tk 1000, Tk 500 and Tk 200 for a roller flour mill or a husking rice mill and Tk 500 and Tk 300 for a wheel flour mill. The three fees are Tk 2000, Tk 1000 and Tk 400 for a major and compact flour mill, and Tk 600, Tk 300 and Tk 120 for dealers pursuing open market sales (OMS).