What is a warehouse? Explain various types of warehouses.

Answer: A warehouse is a place where goods are stored in a safe and scientific way from the time of production until they are needed for sale or use.

Warehousing removes the hindrance of time by holding goods until there is demand. It protects goods from damage, helps maintain a regular supply and price stability, and a warehouse receipt can be used to raise loans.

Types of warehouses:

1. Private warehouses: Owned and operated by manufacturers, wholesalers or large traders for storing their own goods, usually near the factory or market.
2. Public warehouses: Owned by individuals or co-operatives and licensed by the government; they store goods of the general public on payment of rent. They are useful to small traders.
3. Government warehouses: Owned and managed by the Central or State Government or public sector bodies such as the Central Warehousing Corporation, State Warehousing Corporations and the Food Corporation of India.
4. Bonded warehouses: Licensed by the government to store imported goods on which customs duty has not yet been paid. The importer can pay duty and take delivery in parts, or re-export the goods without paying duty. They are located near ports.
5. Co-operative warehouses: Owned and managed by co-operative societies; they provide storage to members at low rates.
6. Cold storage: Used to store perishable goods such as fruits, vegetables, dairy products, meat and medicines at low temperature.
7. Agricultural warehouses: Used to store agricultural produce such as food grains near farms and markets.
8. Special commodity warehouses: Built for storing particular goods like petroleum, cotton, tobacco or chemicals.