LATEST NEWS UPDATES | Muted MSP hike positive for food inflation: Nomura

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]

Code Context



        trigger_error($message, E_USER_DEPRECATED);

    }

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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]

Code Context



        trigger_error($message, E_USER_DEPRECATED);

    }

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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]

Code Context

            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {

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-PTI
&lt;/div&gt;
&lt;p align=&quot;justify&quot;&gt;
&lt;br /&gt;
&lt;em&gt;MUMBAI: &lt;/em&gt;The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage firm Nomura said in its research report.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Government last week raised the MSP of nine farm items, including some pulses and oilseeds, in the range of Rs 60-450 per quintal for the 2013-14 crop year (July-June), while the price for five crops like urad and ragi were kept unchanged.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Currently, farmers are sowing kharif crops. The announcement of MSP will help farmers decide which crop to sow for better returns.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&amp;quot;The MSP raised by around 5 per cent is much more muted than the average of the last six years&#039; 15 per cent and compared with the current rise in farm input costs. This is good news for food inflation,&amp;quot; Nomura Economist Sonal Varma said in a report.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The government has accepted recommendations for a moderate rise in MSP for various summer crops. Using WPI weights, we estimate that the average MSPs were hiked by around 5.2 per cent YoY in FY 14, down sharply from 22 per cent last year and a six year average of 15 percent, Nomura said.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The comparatively small hike comes despite rising farm input costs.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&amp;quot;We estimate that farm input costs are rising at 16 per cent y-o-y currently due to higher labour, diesel, fodder, electricity and fertiliser costs. This is possibly because of the already large stock of rice held by the government and other macroeconomic considerations, such as general inflation,&amp;quot; Varma said.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
From the medium-term perspective, Nomura sees a muted rise in MSP as positive for food inflation as the double-digit MSP hikes of the last six years had raised food inflation (MSP forms the floor for the market price) and led to a wage-price spiral (food inflation leads to high CPI inflation and rural wages are linked to CPI).
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
A trend of lower MSPs should help break this wage-price spiral, Nomura report said.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
In 2012, there was drought in four states, leading to a fall in foodgrain production by four million tonnes to a little over 255 mt. This year, the monsoon is expected to be normal. 
&lt;/p&gt;&#039;,
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-PTI



MUMBAI: The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-PTI&lt;/div&gt;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;em&gt;MUMBAI: &lt;/em&gt;The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage firm Nomura said in its research report.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Government last week raised the MSP of nine farm items, including some pulses and oilseeds, in the range of Rs 60-450 per quintal for the 2013-14 crop year (July-June), while the price for five crops like urad and ragi were kept unchanged.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Currently, farmers are sowing kharif crops. The announcement of MSP will help farmers decide which crop to sow for better returns.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&amp;quot;The MSP raised by around 5 per cent is much more muted than the average of the last six years&#039; 15 per cent and compared with the current rise in farm input costs. This is good news for food inflation,&amp;quot; Nomura Economist Sonal Varma said in a report.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The government has accepted recommendations for a moderate rise in MSP for various summer crops. Using WPI weights, we estimate that the average MSPs were hiked by around 5.2 per cent YoY in FY 14, down sharply from 22 per cent last year and a six year average of 15 percent, Nomura said.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The comparatively small hike comes despite rising farm input costs.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&amp;quot;We estimate that farm input costs are rising at 16 per cent y-o-y currently due to higher labour, diesel, fodder, electricity and fertiliser costs. This is possibly because of the already large stock of rice held by the government and other macroeconomic considerations, such as general inflation,&amp;quot; Varma said.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;From the medium-term perspective, Nomura sees a muted rise in MSP as positive for food inflation as the double-digit MSP hikes of the last six years had raised food inflation (MSP forms the floor for the market price) and led to a wage-price spiral (food inflation leads to high CPI inflation and rural wages are linked to CPI).&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;A trend of lower MSPs should help break this wage-price spiral, Nomura report said.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;In 2012, there was drought in four states, leading to a fall in foodgrain production by four million tonnes to a little over 255 mt. This year, the monsoon is expected to be normal. &lt;/p&gt;&#039;,
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-PTI
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&lt;em&gt;MUMBAI: &lt;/em&gt;The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage firm Nomura said in its research report.
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Government last week raised the MSP of nine farm items, including some pulses and oilseeds, in the range of Rs 60-450 per quintal for the 2013-14 crop year (July-June), while the price for five crops like urad and ragi were kept unchanged.
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Currently, farmers are sowing kharif crops. The announcement of MSP will help farmers decide which crop to sow for better returns.
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&amp;quot;The MSP raised by around 5 per cent is much more muted than the average of the last six years&#039; 15 per cent and compared with the current rise in farm input costs. This is good news for food inflation,&amp;quot; Nomura Economist Sonal Varma said in a report.
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&lt;p align=&quot;justify&quot;&gt;
The government has accepted recommendations for a moderate rise in MSP for various summer crops. Using WPI weights, we estimate that the average MSPs were hiked by around 5.2 per cent YoY in FY 14, down sharply from 22 per cent last year and a six year average of 15 percent, Nomura said.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The comparatively small hike comes despite rising farm input costs.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
&amp;quot;We estimate that farm input costs are rising at 16 per cent y-o-y currently due to higher labour, diesel, fodder, electricity and fertiliser costs. This is possibly because of the already large stock of rice held by the government and other macroeconomic considerations, such as general inflation,&amp;quot; Varma said.
&lt;/p&gt;
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From the medium-term perspective, Nomura sees a muted rise in MSP as positive for food inflation as the double-digit MSP hikes of the last six years had raised food inflation (MSP forms the floor for the market price) and led to a wage-price spiral (food inflation leads to high CPI inflation and rural wages are linked to CPI).
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A trend of lower MSPs should help break this wage-price spiral, Nomura report said.
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&lt;p align=&quot;justify&quot;&gt;
In 2012, there was drought in four states, leading to a fall in foodgrain production by four million tonnes to a little over 255 mt. This year, the monsoon is expected to be normal. 
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-PTI



MUMBAI: The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage...&#039;
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MUMBAI: The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage..."/>
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                <div align="justify">-PTI</div><p align="justify"><br /><em>MUMBAI: </em>The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage firm Nomura said in its research report.</p><p align="justify">Government last week raised the MSP of nine farm items, including some pulses and oilseeds, in the range of Rs 60-450 per quintal for the 2013-14 crop year (July-June), while the price for five crops like urad and ragi were kept unchanged.</p><p align="justify">Currently, farmers are sowing kharif crops. The announcement of MSP will help farmers decide which crop to sow for better returns.</p><p align="justify">&quot;The MSP raised by around 5 per cent is much more muted than the average of the last six years' 15 per cent and compared with the current rise in farm input costs. This is good news for food inflation,&quot; Nomura Economist Sonal Varma said in a report.</p><p align="justify">The government has accepted recommendations for a moderate rise in MSP for various summer crops. Using WPI weights, we estimate that the average MSPs were hiked by around 5.2 per cent YoY in FY 14, down sharply from 22 per cent last year and a six year average of 15 percent, Nomura said.</p><p align="justify">The comparatively small hike comes despite rising farm input costs.</p><p align="justify">&quot;We estimate that farm input costs are rising at 16 per cent y-o-y currently due to higher labour, diesel, fodder, electricity and fertiliser costs. This is possibly because of the already large stock of rice held by the government and other macroeconomic considerations, such as general inflation,&quot; Varma said.</p><p align="justify">From the medium-term perspective, Nomura sees a muted rise in MSP as positive for food inflation as the double-digit MSP hikes of the last six years had raised food inflation (MSP forms the floor for the market price) and led to a wage-price spiral (food inflation leads to high CPI inflation and rural wages are linked to CPI).</p><p align="justify">A trend of lower MSPs should help break this wage-price spiral, Nomura report said.</p><p align="justify">In 2012, there was drought in four states, leading to a fall in foodgrain production by four million tonnes to a little over 255 mt. This year, the monsoon is expected to be normal. </p>               </font>
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    <link rel="canonical" href="https://im4change.in/<pre class="cake-error"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr680de937d1797-trace').style.display = (document.getElementById('cakeErr680de937d1797-trace').style.display == 'none' ? '' : 'none');"><b>Notice</b> (8)</a>: Undefined variable: urlPrefix [<b>APP/Template/Layout/printlayout.ctp</b>, line <b>8</b>]<div id="cakeErr680de937d1797-trace" class="cake-stack-trace" style="display: none;"><a href="javascript:void(0);" onclick="document.getElementById('cakeErr680de937d1797-code').style.display = (document.getElementById('cakeErr680de937d1797-code').style.display == 'none' ? '' : 'none')">Code</a> <a href="javascript:void(0);" onclick="document.getElementById('cakeErr680de937d1797-context').style.display = (document.getElementById('cakeErr680de937d1797-context').style.display == 'none' ? '' : 'none')">Context</a><pre id="cakeErr680de937d1797-code" class="cake-code-dump" style="display: none;"><code><span style="color: #000000"><span style="color: #0000BB"></span><span style="color: #007700">&lt;</span><span style="color: #0000BB">head</span><span style="color: #007700">&gt;
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-PTI
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&lt;p align=&quot;justify&quot;&gt;
&lt;br /&gt;
&lt;em&gt;MUMBAI: &lt;/em&gt;The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage firm Nomura said in its research report.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
Government last week raised the MSP of nine farm items, including some pulses and oilseeds, in the range of Rs 60-450 per quintal for the 2013-14 crop year (July-June), while the price for five crops like urad and ragi were kept unchanged.
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Currently, farmers are sowing kharif crops. The announcement of MSP will help farmers decide which crop to sow for better returns.
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&amp;quot;The MSP raised by around 5 per cent is much more muted than the average of the last six years&#039; 15 per cent and compared with the current rise in farm input costs. This is good news for food inflation,&amp;quot; Nomura Economist Sonal Varma said in a report.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The government has accepted recommendations for a moderate rise in MSP for various summer crops. Using WPI weights, we estimate that the average MSPs were hiked by around 5.2 per cent YoY in FY 14, down sharply from 22 per cent last year and a six year average of 15 percent, Nomura said.
&lt;/p&gt;
&lt;p align=&quot;justify&quot;&gt;
The comparatively small hike comes despite rising farm input costs.
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&amp;quot;We estimate that farm input costs are rising at 16 per cent y-o-y currently due to higher labour, diesel, fodder, electricity and fertiliser costs. This is possibly because of the already large stock of rice held by the government and other macroeconomic considerations, such as general inflation,&amp;quot; Varma said.
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From the medium-term perspective, Nomura sees a muted rise in MSP as positive for food inflation as the double-digit MSP hikes of the last six years had raised food inflation (MSP forms the floor for the market price) and led to a wage-price spiral (food inflation leads to high CPI inflation and rural wages are linked to CPI).
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A trend of lower MSPs should help break this wage-price spiral, Nomura report said.
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In 2012, there was drought in four states, leading to a fall in foodgrain production by four million tonnes to a little over 255 mt. This year, the monsoon is expected to be normal. 
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-PTI



MUMBAI: The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;div align=&quot;justify&quot;&gt;-PTI&lt;/div&gt;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;em&gt;MUMBAI: &lt;/em&gt;The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage firm Nomura said in its research report.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Government last week raised the MSP of nine farm items, including some pulses and oilseeds, in the range of Rs 60-450 per quintal for the 2013-14 crop year (July-June), while the price for five crops like urad and ragi were kept unchanged.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Currently, farmers are sowing kharif crops. The announcement of MSP will help farmers decide which crop to sow for better returns.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&amp;quot;The MSP raised by around 5 per cent is much more muted than the average of the last six years&#039; 15 per cent and compared with the current rise in farm input costs. This is good news for food inflation,&amp;quot; Nomura Economist Sonal Varma said in a report.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The government has accepted recommendations for a moderate rise in MSP for various summer crops. Using WPI weights, we estimate that the average MSPs were hiked by around 5.2 per cent YoY in FY 14, down sharply from 22 per cent last year and a six year average of 15 percent, Nomura said.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The comparatively small hike comes despite rising farm input costs.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&amp;quot;We estimate that farm input costs are rising at 16 per cent y-o-y currently due to higher labour, diesel, fodder, electricity and fertiliser costs. This is possibly because of the already large stock of rice held by the government and other macroeconomic considerations, such as general inflation,&amp;quot; Varma said.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;From the medium-term perspective, Nomura sees a muted rise in MSP as positive for food inflation as the double-digit MSP hikes of the last six years had raised food inflation (MSP forms the floor for the market price) and led to a wage-price spiral (food inflation leads to high CPI inflation and rural wages are linked to CPI).&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;A trend of lower MSPs should help break this wage-price spiral, Nomura report said.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;In 2012, there was drought in four states, leading to a fall in foodgrain production by four million tonnes to a little over 255 mt. This year, the monsoon is expected to be normal. &lt;/p&gt;&#039;,
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&lt;em&gt;MUMBAI: &lt;/em&gt;The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage firm Nomura said in its research report.
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Government last week raised the MSP of nine farm items, including some pulses and oilseeds, in the range of Rs 60-450 per quintal for the 2013-14 crop year (July-June), while the price for five crops like urad and ragi were kept unchanged.
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&amp;quot;The MSP raised by around 5 per cent is much more muted than the average of the last six years&#039; 15 per cent and compared with the current rise in farm input costs. This is good news for food inflation,&amp;quot; Nomura Economist Sonal Varma said in a report.
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The government has accepted recommendations for a moderate rise in MSP for various summer crops. Using WPI weights, we estimate that the average MSPs were hiked by around 5.2 per cent YoY in FY 14, down sharply from 22 per cent last year and a six year average of 15 percent, Nomura said.
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The comparatively small hike comes despite rising farm input costs.
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&amp;quot;We estimate that farm input costs are rising at 16 per cent y-o-y currently due to higher labour, diesel, fodder, electricity and fertiliser costs. This is possibly because of the already large stock of rice held by the government and other macroeconomic considerations, such as general inflation,&amp;quot; Varma said.
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From the medium-term perspective, Nomura sees a muted rise in MSP as positive for food inflation as the double-digit MSP hikes of the last six years had raised food inflation (MSP forms the floor for the market price) and led to a wage-price spiral (food inflation leads to high CPI inflation and rural wages are linked to CPI).
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A trend of lower MSPs should help break this wage-price spiral, Nomura report said.
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In 2012, there was drought in four states, leading to a fall in foodgrain production by four million tonnes to a little over 255 mt. This year, the monsoon is expected to be normal. 
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-PTI



MUMBAI: The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage...&#039;
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MUMBAI: The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage..."/>
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                <strong>Muted MSP hike positive for food inflation: Nomura</strong></h1>
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                <div align="justify">-PTI</div><p align="justify"><br /><em>MUMBAI: </em>The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage firm Nomura said in its research report.</p><p align="justify">Government last week raised the MSP of nine farm items, including some pulses and oilseeds, in the range of Rs 60-450 per quintal for the 2013-14 crop year (July-June), while the price for five crops like urad and ragi were kept unchanged.</p><p align="justify">Currently, farmers are sowing kharif crops. The announcement of MSP will help farmers decide which crop to sow for better returns.</p><p align="justify">&quot;The MSP raised by around 5 per cent is much more muted than the average of the last six years' 15 per cent and compared with the current rise in farm input costs. This is good news for food inflation,&quot; Nomura Economist Sonal Varma said in a report.</p><p align="justify">The government has accepted recommendations for a moderate rise in MSP for various summer crops. Using WPI weights, we estimate that the average MSPs were hiked by around 5.2 per cent YoY in FY 14, down sharply from 22 per cent last year and a six year average of 15 percent, Nomura said.</p><p align="justify">The comparatively small hike comes despite rising farm input costs.</p><p align="justify">&quot;We estimate that farm input costs are rising at 16 per cent y-o-y currently due to higher labour, diesel, fodder, electricity and fertiliser costs. This is possibly because of the already large stock of rice held by the government and other macroeconomic considerations, such as general inflation,&quot; Varma said.</p><p align="justify">From the medium-term perspective, Nomura sees a muted rise in MSP as positive for food inflation as the double-digit MSP hikes of the last six years had raised food inflation (MSP forms the floor for the market price) and led to a wage-price spiral (food inflation leads to high CPI inflation and rural wages are linked to CPI).</p><p align="justify">A trend of lower MSPs should help break this wage-price spiral, Nomura report said.</p><p align="justify">In 2012, there was drought in four states, leading to a fall in foodgrain production by four million tonnes to a little over 255 mt. This year, the monsoon is expected to be normal. </p>               </font>
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-PTI
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&lt;br /&gt;
&lt;em&gt;MUMBAI: &lt;/em&gt;The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage firm Nomura said in its research report.
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Government last week raised the MSP of nine farm items, including some pulses and oilseeds, in the range of Rs 60-450 per quintal for the 2013-14 crop year (July-June), while the price for five crops like urad and ragi were kept unchanged.
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Currently, farmers are sowing kharif crops. The announcement of MSP will help farmers decide which crop to sow for better returns.
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&amp;quot;The MSP raised by around 5 per cent is much more muted than the average of the last six years&#039; 15 per cent and compared with the current rise in farm input costs. This is good news for food inflation,&amp;quot; Nomura Economist Sonal Varma said in a report.
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The government has accepted recommendations for a moderate rise in MSP for various summer crops. Using WPI weights, we estimate that the average MSPs were hiked by around 5.2 per cent YoY in FY 14, down sharply from 22 per cent last year and a six year average of 15 percent, Nomura said.
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The comparatively small hike comes despite rising farm input costs.
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&amp;quot;We estimate that farm input costs are rising at 16 per cent y-o-y currently due to higher labour, diesel, fodder, electricity and fertiliser costs. This is possibly because of the already large stock of rice held by the government and other macroeconomic considerations, such as general inflation,&amp;quot; Varma said.
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From the medium-term perspective, Nomura sees a muted rise in MSP as positive for food inflation as the double-digit MSP hikes of the last six years had raised food inflation (MSP forms the floor for the market price) and led to a wage-price spiral (food inflation leads to high CPI inflation and rural wages are linked to CPI).
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A trend of lower MSPs should help break this wage-price spiral, Nomura report said.
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In 2012, there was drought in four states, leading to a fall in foodgrain production by four million tonnes to a little over 255 mt. This year, the monsoon is expected to be normal. 
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-PTI



MUMBAI: The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage...&#039;,
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-PTI
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&lt;em&gt;MUMBAI: &lt;/em&gt;The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage firm Nomura said in its research report.
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Government last week raised the MSP of nine farm items, including some pulses and oilseeds, in the range of Rs 60-450 per quintal for the 2013-14 crop year (July-June), while the price for five crops like urad and ragi were kept unchanged.
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Currently, farmers are sowing kharif crops. The announcement of MSP will help farmers decide which crop to sow for better returns.
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&amp;quot;The MSP raised by around 5 per cent is much more muted than the average of the last six years&#039; 15 per cent and compared with the current rise in farm input costs. This is good news for food inflation,&amp;quot; Nomura Economist Sonal Varma said in a report.
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The government has accepted recommendations for a moderate rise in MSP for various summer crops. Using WPI weights, we estimate that the average MSPs were hiked by around 5.2 per cent YoY in FY 14, down sharply from 22 per cent last year and a six year average of 15 percent, Nomura said.
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The comparatively small hike comes despite rising farm input costs.
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&amp;quot;We estimate that farm input costs are rising at 16 per cent y-o-y currently due to higher labour, diesel, fodder, electricity and fertiliser costs. This is possibly because of the already large stock of rice held by the government and other macroeconomic considerations, such as general inflation,&amp;quot; Varma said.
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From the medium-term perspective, Nomura sees a muted rise in MSP as positive for food inflation as the double-digit MSP hikes of the last six years had raised food inflation (MSP forms the floor for the market price) and led to a wage-price spiral (food inflation leads to high CPI inflation and rural wages are linked to CPI).
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In 2012, there was drought in four states, leading to a fall in foodgrain production by four million tonnes to a little over 255 mt. This year, the monsoon is expected to be normal. 
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-PTI



MUMBAI: The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage...&#039;
$disp = &#039;&lt;div align=&quot;justify&quot;&gt;-PTI&lt;/div&gt;&lt;p align=&quot;justify&quot;&gt;&lt;br /&gt;&lt;em&gt;MUMBAI: &lt;/em&gt;The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage firm Nomura said in its research report.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Government last week raised the MSP of nine farm items, including some pulses and oilseeds, in the range of Rs 60-450 per quintal for the 2013-14 crop year (July-June), while the price for five crops like urad and ragi were kept unchanged.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;Currently, farmers are sowing kharif crops. The announcement of MSP will help farmers decide which crop to sow for better returns.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&amp;quot;The MSP raised by around 5 per cent is much more muted than the average of the last six years&#039; 15 per cent and compared with the current rise in farm input costs. This is good news for food inflation,&amp;quot; Nomura Economist Sonal Varma said in a report.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The government has accepted recommendations for a moderate rise in MSP for various summer crops. Using WPI weights, we estimate that the average MSPs were hiked by around 5.2 per cent YoY in FY 14, down sharply from 22 per cent last year and a six year average of 15 percent, Nomura said.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;The comparatively small hike comes despite rising farm input costs.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;&amp;quot;We estimate that farm input costs are rising at 16 per cent y-o-y currently due to higher labour, diesel, fodder, electricity and fertiliser costs. This is possibly because of the already large stock of rice held by the government and other macroeconomic considerations, such as general inflation,&amp;quot; Varma said.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;From the medium-term perspective, Nomura sees a muted rise in MSP as positive for food inflation as the double-digit MSP hikes of the last six years had raised food inflation (MSP forms the floor for the market price) and led to a wage-price spiral (food inflation leads to high CPI inflation and rural wages are linked to CPI).&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;A trend of lower MSPs should help break this wage-price spiral, Nomura report said.&lt;/p&gt;&lt;p align=&quot;justify&quot;&gt;In 2012, there was drought in four states, leading to a fall in foodgrain production by four million tonnes to a little over 255 mt. This year, the monsoon is expected to be normal. &lt;/p&gt;&#039;
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                <strong>Muted MSP hike positive for food inflation: Nomura</strong></h1>
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                <div align="justify">-PTI</div><p align="justify"><br /><em>MUMBAI: </em>The recent five per cent hike in the MSP against 15 per cent average hike in support price for farm produce in the last six years is likely to have only a nominal impact on food inflation Japanese brokerage firm Nomura said in its research report.</p><p align="justify">Government last week raised the MSP of nine farm items, including some pulses and oilseeds, in the range of Rs 60-450 per quintal for the 2013-14 crop year (July-June), while the price for five crops like urad and ragi were kept unchanged.</p><p align="justify">Currently, farmers are sowing kharif crops. The announcement of MSP will help farmers decide which crop to sow for better returns.</p><p align="justify">&quot;The MSP raised by around 5 per cent is much more muted than the average of the last six years' 15 per cent and compared with the current rise in farm input costs. This is good news for food inflation,&quot; Nomura Economist Sonal Varma said in a report.</p><p align="justify">The government has accepted recommendations for a moderate rise in MSP for various summer crops. Using WPI weights, we estimate that the average MSPs were hiked by around 5.2 per cent YoY in FY 14, down sharply from 22 per cent last year and a six year average of 15 percent, Nomura said.</p><p align="justify">The comparatively small hike comes despite rising farm input costs.</p><p align="justify">&quot;We estimate that farm input costs are rising at 16 per cent y-o-y currently due to higher labour, diesel, fodder, electricity and fertiliser costs. This is possibly because of the already large stock of rice held by the government and other macroeconomic considerations, such as general inflation,&quot; Varma said.</p><p align="justify">From the medium-term perspective, Nomura sees a muted rise in MSP as positive for food inflation as the double-digit MSP hikes of the last six years had raised food inflation (MSP forms the floor for the market price) and led to a wage-price spiral (food inflation leads to high CPI inflation and rural wages are linked to CPI).</p><p align="justify">A trend of lower MSPs should help break this wage-price spiral, Nomura report said.</p><p align="justify">In 2012, there was drought in four states, leading to a fall in foodgrain production by four million tonnes to a little over 255 mt. This year, the monsoon is expected to be normal. </p>               </font>
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