Monsoon rains, which have entered the key soybean-growing areas, are likely to be weak in the next three days, weather officials said on Monday. But industry officials said sowing of soybean, the main summer-planted oilseed, would not be hit due to good soil moisture after recent pre-monsoon showers in the region. Weather officials said rains are likely to gather momentum from 25 June. “We expect monsoon flow to strengthen over central India from...
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Food, fuel inflation ease in early June
India’s food and Fuel Price Inflation eased in early June, easing pressure on Reserve Bank of India (RBI) to speed up its process of tightening monetary policy. India’s food price index rose 16.12% in the year to 5 June, snapping a two-week rise, and lower than the previous week’s annual reading of 16.74%, government data released on Thursday showed. The fuel price index climbed 13.18%, compared with an annual rise of 14.23%...
More »Food inflation may rise further, but no cause for alarm: Montek by Sujay Mehdudia
Food inflation may increase further in the coming weeks, but there is no cause for alarm as the rise is more the result of the low-base effect, Deputy Chairman of Planning Commission Montek Singh Ahulwalia said on Wednesday. As of May 29, food inflation stood at 16.74 per cent. “It is quite possible that when the data comes out on Thursday, you may see a little increase in food inflation. That...
More »Food inflation rises to 16.49%
India's annual food inflation edged up for the second week, rising to 16.49% for the week ended May 8 as shown by the official data released on Thursday. The food inflation stood at 16.44% the previous week, up from 16.04% for the week ended April 24. Data on the wholesale price index (WPI) released by the commerce and industry ministry showed that food inflation rose though the index for this...
More »UN agency worried about India’s food inflation
A UN expert body on Thursday said surge in food prices in India is a matter of concern, but retail price inflation will cool down to 7.5% this year from around 12% last year. The UN Economic Social Commission for Asia and Pacific (Escap) also projected the economy to grow by 8.3% in 2010-11, compared to estimated 7.2% last fiscal, fueled by the recovery in investment and private consumption. “In India, consumer...
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