Ranchi, Aug 24 - Traders in Jharkhand, accused of hoarding essential food grain, say they need time to reduce their stock.

'We are ready to cooperate with the state government. We should be given time to reduce our stocks up to prescribed quota. The government should suggest what to do with the surplus quota,' Anchal Kinger, president of the Federation of Jharkhand Chamber of Commerce and Industries (FJCCI), told reporters Monday.

Last week, government officials had raided several shops in Ranchi where food grain and pulses had been allegedly hoarded, and arrested one trader and lodged complaints against five more.

Ranchi district administration officials said they seized 809 quintals of pulses and around 100 quintals of peanuts among other hoarded things.