India's food price index rose 12.92 per cent in the year to June 19, while the fuel price index climbed 12.90 percent, government data released on Thursday showed. The pace of increase in food prices slowed from the previous week's annual rise of 16.90 percent, while fuel price inflation eased from last week's annual rise of 13.18 per cent. The primary articles index was up at 14.75 per cent. Wholesale price...

India’s annual monsoon rains should revive in two days after a 10-day lull, the weather office said on Monday, raising hopes for a pick-up in soybean planting in the world’s biggest edible oils buyer. The June-September rainfall, which irrigates 60% of the country’s farms and drives rural incomes, is vital for the trillion-dollar economy. A healthy rainfall despite the slow progress could help Prime Minister Manmohan Singh tame high double-digit food...

India’s annual monsoon rains, key to farm output and economic growth, are expected to be better than previously forecast, raising prospects of good harvests and possibly helping to cool double digit food inflation. The monsoon rains, which deliver 75-90% of the country’s rainfall, were expected at 102% of the long-term average, government officials said on Friday, raising an earlier forecast of 98%. Bountiful rains despite slow progress of the June-September monsoon will...

At a time the country is facing high food inflation, its bread basket is sitting on colossal wheat stocks. The stocks, to the tune of 12 million tonnes, lying in godowns and open spaces in Punjab are giving sleepless nights to the Food Corporation of India (FCI). About 800,000 tonnes wheat moves out of Punjab in a month. Based on these figures, the state can clear about five million tonnes wheat...

Wheat to be sold to traders at Rs.12.50 a kg; decision on sugar deferred  The Centre will release five million tonnes of wheat from its pool in the open market to enhance availability and maintain a check on prices. The wheat, to be released in July, would be available directly from depots for traders and retail buyers at a reserved price of approximately Rs.12.54 a kg. Wheat is selling in Delhi...