-Hindustan Times India’s Public Distribution System (PDS) after the enactment of the National Food Security Act (NFSA) promises 5kg foodgrain per persons at a highly subsidised cost of ₹3/kg for rice, Rs.2/kg for wheat and Rs.1/kg for cereals. The government will stand to lose this revenue after the decision to make PDS entitlements free. New Delhi: On December 24, the Union government announced a rejig of India’s food security programme. It has...
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India may ban rice exports, pose risk to global supply, says Nomura
-Moneycontrol.com The world's biggest rice exporter could see lower production as sowing has been 6 percent lower than the previous season India, the world’s largest rice exporter, could ban exports amid sub-par sowing this season, Nomura said on August 30. “Will India ban rice exports? We think the risk is non-negligible,” Sonal Varma, Nomura's chief economist for India and Asia (excluding Japan), said in a note. “Following the Russia-Ukraine war, soaring maize prices prompted...
More »Cereal inflation likely to offset disinflationary forces, say experts -Sanjeeb Mukherjee
-Business Standard There is a possibility of a 10-15-million tonne drop in kharif rice production due to drought in several major growing states in eastern India Wheat prices in some markets have touched Rs 2,522 a quintal and cereal inflation is expected to remain sticky in the months ahead due to low wheat stocks in central granaries. Nomura India in a report said lower rice output will put pressure on domestic rice...
More »Cereal inflation would be hard to tame amidst low rice acreage
Is India going to face inflation in cereal prices during the rest of the current financial year? Experts differ on this. An analysis by Nomura Global Economics and CEIC finds that a below normal monsoon does not always translate into high retail inflation in food. Similarly, an above normal southwest monsoon does not always bring down the rate of food inflation. However, some agricultural experts (please click here, here and...
More »Poor monsoon does not always translate to high inflation
-Moneycontrol.com Here is a counterintuitive set of data, which indicates a decoupling of rains and inflation With the monsoon delayed in June and being unevenly distributed in July, everyone has been worrying about a fall in food production and resultant inflation. After all, we keep hearing that India’s agriculture is mostly rainfed. Then, the reasoning goes like this–poor rains equals poor harvest equals high inflation. But does poor rains really cause inflation? Here is a...
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