Election results in the onion belt increases hopes of industry and farmers for more farm friendly policies

Election results in the onion belt increases hopes of industry and farmers for more farm friendly policies

Farmers and the industry expect the new government to increase import duty on cooking oils to support soyabean prices, remove export duty on onions, and take cautious stand on the demand for import of maize and wheat. Inspired by the onion farmers, others have started demanding policy measures to support soyabean and milk prices.“Soyabean prices … Read more

Retail inflation for farm workers rises to 7.71 pc in Dec

Retail inflation for farm workers rises to 7.71 pc in Dec

New Delhi: Retail inflation for farm workers and rural labourers increased marginally to 7.71 per cent and 7.46 per cent in December compared to 7.37 per cent and 7.13 per cent, respectively, in November due to higher prices of certain food items. Food inflation stood at 9.95 per cent and 9.80 per cent in December … Read more

Retail inflation for farm workers rises to 7.37 pc in November, 7.13 pc for rural labourers

Retail inflation for farm workers rises to 7.37 pc in November, 7.13 pc for rural labourers

Retail inflation for farm workers rose to 7.37 per cent and that for rural labourers climbed to 7.13 per cent in November, mainly due to higher prices of certain food items. Retail inflation in October was 7.08 per cent and 6.92 per cent for farm workers and rural labourers, respectively, according to an official statement. … Read more

Tomato prices flared up by rains, seasonal factors; government taking steps to curb food inflation: FM Nirmala Sitharaman

Tomato prices flared up by rains, seasonal factors; government taking steps to curb food inflation: FM Nirmala Sitharaman

The recent spike in tomato prices has been driven by a raft of factors, including crop seasonality and heavy monsoon downpours, and the government has taken a series of steps to address inflationary pressure in essential commodities, finance minister Nirmala Sitharaman told Parliament on Monday. In a written reply in the Lok Sabha, the minister … Read more

India’s growth prospects intact in FY24; sequential increase in food inflation in June: Finance ministry report

India’s growth prospects intact in FY24; sequential increase in food inflation in June: Finance ministry report

India’s growth prospects remain intact in FY24 on the back of improved monsoon showers, solid fiscal performance, continued expansion in manufacturing and services sectors and vigorous capital expenditure spending by both public and private sectors, the finance ministry said on Thursday. “Indian economy’s domestic dynamics continue to be strong. Real GDP growth data for the … Read more

Likely damage to sown crops stokes food inflation worries

Likely damage to sown crops stokes food inflation worries

The intense rainfall spell over Himachal Pradesh, Punjab and Haryana is expected to “decrease significantly” in the coming days, but experts believe the rains to have caused significant damage to the already sown kharif crops in the north-western states. The damage to the moong, urad, groundnut and soybean crops could range 10-15%, leading to concerns … Read more

India weighs steps to cool record wheat prices, government sources say

India weighs steps to cool record wheat prices, government sources say

Soaring wheat prices in India could prompt price-cooling measures such as the release of state reserves into the open market while axeing the 40% tax on imports, trade and government sources said on Thursday. The government has been trying to rein in food inflation, but its efforts have been complicated by wheat prices that have … Read more

Retail inflation rises to 6.01 per cent in January, breaches RBI’s comfort mark

Retail inflation rises to 6.01 per cent in January, breaches RBI’s comfort mark

India’s benchmark inflation rate, measured by the Consumer Price Index (CPI) rose to 6.01 per cent year-on-year in January 2022, data released by the Ministry of Statistics and Programme Implementation on Monday indicated. The figure for January has clearly crossed RBI confort zone, although marginally. Retail inflation was 5.66 per cent (revised) in December and … Read more

Sri Lanka inflation hits record 14 per cent as food crisis worsens

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Sri Lanka consumer prices shot up a record 14 percent in December, surpassing a previous high of 11.1 from a month earlier, official figures showed on Saturday as food and fuel shortages worsen. Senior ministers warned parliament earlier in the week of a growing food crisis with rice harvests due in March expected to be … Read more

India’s vegetable oil imports cost a record $15.7 billion

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India’s bill for imports of vegetable oil jumped 63% in 2020/21 from a year ago to a record 1.17 trillion rupees ($15.71 billion) as overseas prices of edible oils surged, a leading trade body said on Tuesday. The South Asian nation is the world’s biggest importer of edible oils, and higher purchases of palm oil, … Read more