The Centre today sought to justify the export ban on onion by saying that the wholesale price of onion in Nashik, the country’s largest wholesale hub for the bulb crop, had declined by 33 per cent to Rs 2,500 per 100kg or Rs 25 a kg. The impact will not be felt immediately on kitchen budgets as it will take some time – “two to three weeks”, according to Sharad Pawar...

FAO has warned that 2011 may witness a global food crisis. Proactive action is needed to meet the challenge of price volatility, chronic hunger, agrarian despair and climate change. The Food and Agriculture Organisation of the United Nations (FAO) has alerted developing countries about possible steep rises in food prices during 2011, if steps are not taken immediately to increase significantly the production of major food crops. According to FAO, “with...

Retail price of onions has surged to Rs. 60-70 a kg within a couple of days NOCs will not be issued to exporters till January 15 Minimum export price raised to $1,200 a tonne The government on Monday announced suspension of onion exports till January 15 in a last-minute effort to cool prices of the poor man's essential vegetable from the prevailing high of Rs. 60-70 a kg. In a twin strategy, while the...

Haryana Chief Minister Bhupinder Singh Hooda on Wednesday submitted the Working Group on Agriculture Production report to Indian Prime Minister in New Delhi. It is to mention that Indian Prime Minster on April 8, 2010 constituted the Working Group on Agriculture Production under the chairmanship of the Haryana Chief Minister, Bhupinder Singh Hooda and the Chief Ministers of Punjab, Bihar and West Bengal as members to recommend strategies and action plan...

This week’s good news on food price inflation was evened out by the bad news on fuel prices hike. But, both were along expected lines. Thanks to the so-called “base effect” — the fact that last year this time food prices were rising sharply and since last year’s prices become the denominator in this year’s price ratio, the rate of inflation would be expected to moderate — and to an...