Context: Recently, Government of India has declared Soya Meal as an Essential Commodity till 30th June, 2022 under the Essential Commodities Act 1955.
About Soya Meal

• It 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.
• It represents nearly two-thirds of the total world output of protein feedstuffs, including all other major oil meals and fish meals.

Impact of this declaration

• This is expected to stop any unfair practices (like hoarding, black marketing etc) in the market having the potential to hike the prices of soya meal.
• This will also enhance the availability of the commodity for consumers like poultry farms and cattle feed manufacturers.

About Essential Commodities Act 1955

• It was enacted to ensure the easy availability of essential commodities to consumers and to protect them from exploitation by unscrupulous traders.
• There is no specific definition of essential commodities in The EC Act. Section 2(A) of the act states that an “essential commodity” means a commodity specified in the “Schedule” of this Act.
• The Act gives powers to the central government to add or remove a commodity in the “Schedule”. 
• 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.
• By declaring a commodity as essential, the government can control the production, supply, and distribution of that commodity, and impose a stock limit.