Government of India has declared <\/span>Soya Meal as an Essential Commodity till 30th June, 2022\u00a0<\/span>under the <\/span>Essential Commodities Act 1955.<\/span><\/p>\n Soybean meal is the by-product of the extraction of soybean oil. It is the most important protein source used to feed farm animals. It is also used for human consumption in some countries.<\/span><\/p>\n This is <\/span>expected to stop any unfair practices (like hoarding, black marketing etc) in the market having the potential to hike the prices of soya meal.<\/span><\/p>\n This will also enhance the availability of the commodity for consumers like poultry farms and cattle feed manufacturers.<\/span><\/p>\n Essential Commodities Act,1955<\/span> was enacted to ensure the easy availability<\/strong> of essential commodities to consumers and to protect them from exploitation by unscrupulous traders.<\/span><\/p>\n There is no specific definition<\/strong> of essential commodities in The EC Act. Section 2(A) of the act states that an \u201cessential commodity\u201d means a commodity specified in the \u201cSchedule\u201d of this Act.<\/span><\/p>\n The Act gives powers to the central government<\/strong> to add or remove a commodity in the \u201cSchedule\u201d. The Centre, if it is satisfied that it is necessary to do so in public interest, can notify an item as essential, in consultation with state governments.<\/span><\/p>\n By declaring a commodity as essential, the government can control the production, supply, and distribution<\/strong> of that commodity, and impose a stock limit.<\/span><\/p>\n Source: <\/b>This post is based on the article \u2018<\/b>Centre declares Soya Meal as an Essential Commodity up to 30th June, 2022<\/b>\u2019 <\/b>published in PIB <\/b>on 25th<\/sup> Dec 2021.<\/b><\/p>\n","protected":false},"excerpt":{"rendered":" What is the News? Government of India has declared Soya Meal as an Essential Commodity till 30th June, 2022\u00a0under the Essential Commodities Act 1955. What is Soya Meal? Soybean meal is the by-product of the extraction of soybean oil. It is the most important protein source used to feed farm animals. It is also used… Continue reading Centre declares Soya Meal as an Essential Commodity up to 30th June, 2022<\/span><\/a><\/p>\n","protected":false},"author":10317,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1566,9],"tags":[3590],"class_list":["post-156598","post","type-post","status-publish","format-standard","hentry","category-daily-factly-articles","category-public","tag-pib","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704790211},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/156598","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10317"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=156598"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/156598\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=156598"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=156598"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=156598"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}What is Soya Meal?<\/b><\/h5>\n
What is the impact of declaring Soya Meal as <\/b>an Essential Commodity?<\/b><\/h5>\n
What is the Essential Commodities Act 1955?<\/b><\/h5>\n