Financial Daily from THE HINDU group of publications
Wednesday, Mar 20, 2002
Financial Daily from THE HINDU group of publications Wednesday, Mar 20, 2002 |
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Agri-Biz & Commodities
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Agricultural Policy TN trade welcomes amendment to Commodities Act Our Bureau
CHENNAI, March 19 THOSE involved in the foodgrain trade in Tamil Nadu have welcomed the Centre's amendment to the Essential Commodities Act. However, they say that the State Government should also act to remove the restrictions on stock limits. They say that the removal of restrictions on movement will help stabilise prices. The Centre's move, according to them, is part of an overall liberalisation in the foodgrains trade. Mr Rajendra M. Shah, past president of the Tamil Nadu Roller Flour Mills' Association, said that it was now up to the Tamil Nadu Government to act in removing the controls on stock limits. Only then would the benefits reach the consumers. The Centre's move, he said, was in keeping with the liberalisation of the foodgrains market as the earlier restrictions on exports had also been removed. He said that the amendment to the Essential Commodities Act would help traders stock adequate levels of raw materials. Bank finance was available but the restrictions had acted as a hurdle in accessing funds from banks. With anticipated good arrivals of wheat in April, the open market prices also should be reduced. The Vice-President, Federation of Tamil Nadu Rice Mill Owners and Paddy Rice Dealers Associations, Mr S. Palaniswamy, was also of the view that the State Government should now come forward to remove restrictions.
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