While any loss in production following the dry spell will further hit the growth story, it will also push up food inflation. considerably. Once again the rain gods are playing truant. With 31 per cent shortfall in June, and with an expectation of only 70 per cent of the predicted 96 per cent rainfall for the July-August months, crucial for farming operations, kharif sowings have already been hit. In June alone,...
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Reading the rains
-The Hindu This year, not only did the monsoon reach India a few days late but its progress thereafter has been alarmingly lackadaisical. While Assam has been deluged and is reeling from the resulting floods, over 85 per cent of the country is suffering from far too little rain. The result is that the nationwide rainfall deficit stood at a grim 29 per cent at the end of June. Rainfall data...
More »Delayed rainfall triggers 15-50% rise in vegetable prices-Jayashree Bhosale & Sutanuka Ghosal
PUNE/ KOLKATA: Heavy rains lashed Mumbai and parched fields in peninsular India as the monsoon resumed its journey after an agonising 11-day interruption, but the unforeseen 41% rain deficit this month has taken its toll, with vegetable prices rising sharply for the third straight month. The monsoon, almost stagnant since June 6, touched southern parts of Gujarat and Chhattisgarh on Sunday. It is forecast to gain momentum in the next three...
More »Price spike inflates worry
-The Telegraph Costlier food items carried inflation up to 7.55 per cent in May, and the price situation could get aggravated further by the government’s decision to raise the minimum support price of paddy, oil seeds and pulses. However, the Cabinet Committee of Economic Affairs (CCEA) deferred a decision to raise urea prices because of opposition by some ministries. Inflation in May last year stood at 9.56 per cent. Overall food inflation rose to...
More »16-53% increase in kharif MSP by govt may stoke food inflation
-The Economic Times The government has increased the minimum support price (MSP) for the kharif season in a range of 16% to 53% to motivate farmers and compensate for higher input costs but the higher purchase prices could stoke food inflation further. The Committee on Economic Affairs ( CCEA) on Thursday raised the MSP of paddy by Rs 170 per quintal and those of oilseeds like groundnut, sunflower seed and niger seed...
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