-The United Nations After three months of stability, the United Nations Food and Agricultural Organization's (FAO) Food Price Index declined in December, meaning the index fell over the course of 2014 for the third consecutive year. The 1.7 per cent fall in December, which comes after the index had appeared to bottom out last month, was credited to continued large supplies and record stocks, combined with a strong US dollar and falling...
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Centre raises import duty on crude, refined edible oils -Sanjeeb Mukherjee
-Business Standard Increases duty on crude edible oils to 7.5% and on refined edible oils to 15% To protect the interests of farmers and provide a level-playing field to domestic oilseed processors, the government has raised the import duty on crude edible oil from 2.5 per cent to 7.5 per cent and that on refined edible oils from 10 per cent to 15 per cent. "Yes, the government had raised the import duties...
More »Agri-commodities show early signs of price rebound -Dilip Kumar Jha
-The Business Standard Wholesale prices of edible oils have risen 40% since Oct 15; pulses and wheat have surged 4.62% and 8.33%, respectively These could still be early signs, but it appears the breather on food inflation that India has been enjoying for some time is going to end. Following a sharp reduction in production estimates, prices of key agricultural commodities have risen over the past three weeks. According to data from the...
More »Farm distress looms as global crop prices crash after 10-year bull run -Harish Damodaran
-The Indian Express For the last 10 years, farmers in India benefited from both increased production and higher price realisations - leading to rising rural incomes and declining poverty rates. That happy story may now be near its end - which could be the precursor to a renewed crisis in agriculture. The main reason is declining global prices for most agri-commodities (see Table 1). Over the last five-six months, corn, wheat and...
More »Setting diesel free is a good idea -Paranjoy Guha Thakurta
-TheGoan.net As had been anticipated, on October 18, the Cabinet Committee of Economic Affairs chaired by Prime Minister Narendra Modi decided to decontrol the prices of diesel, the most widely-used petroleum product in the country. Riding on an unexpected fall in world prices of crude oil, the government was able to simultaneously announce a sharp fall in consumer prices of diesel by Rs 3.37 per litre (in Delhi). But the decision...
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