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Rains drown India’s crop estimates, stoke inflation by S Sujatha & Jayashree Bhosale

From onions, sugar and coconuts, to tea, pulses, rice and spices, all kitchen ingredients will remain expensive in the New Year as unseasonal rains beyond the monsoon wipe out India’s major crops. Worse, rains are hampering the sowing of winter wheat, coarse grains and oilseeds, putting further pressure on food inflation that touched a two-and-a-half month high at 14.44% on Thursday. Across the country, farmers are helplessly watching their fields turn into...

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Inflation surges to 14.44 per cent

Concerned at the rising food inflationary trend, Union Finance Minister Pranab Mukherjee on Thursday hinted at more steps to check the rising prices, even as food inflation surged to a 10-week high of 14.44 per cent. The Cabinet Committee on Prices, headed by Prime Minister Manmohan Singh, met in the evening to review the situation and expressed concern at the spurt in the prices of eggs, fruits, vegetables, milk and other...

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Food inflation at 14.44 per cent y/y on December 18: Government

Food price index rose 14.44 per cent while the fuel price index climbed 11.63 per cent in the year to December 18, government data on Thursday showed. In the prior week, annual food and fuel inflation stood at 12.13 per cent and 10.74 per cent respectively. The primary articles price index was up 17.24 per cent in the latest week compared with an annual rise of 15.35 per cent a week earlier. The...

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Speculators at work by Alok Ray

If the price rise is due to production shortfall, how does one explain the near doubling of the price within a few days? The sharply rising onion prices have raised the suspicion that speculators are manipulating a shortage situation. First, a few facts. In retail markets, onion prices have soared from Rs 10-11 per kg in June to as high as Rs 70-80 on Dec 21. Even more significantly, prices zoomed by...

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Centre releases extra foodgrains for PDS by Gargi Parsai

This allocation is in addition to 25 lakh tonnes of grains released for BPL population in August Ban on export of pulses and permission to import pulses at zero duty to continue till March 2012 The Centre on Tuesday announced an additional allocation of five million tonnes of wheat and rice to States for distribution to the Below Poverty Line (BPL) and Above Poverty Line (APL) beneficiaries through the Targeted Public Distribution...

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