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...
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Govt mulling various steps to rein in wheat prices -Subramani Ra Mancombu and Prabhudatta Mishra
-The Hindu Business Line Food Secretary tells millers the Centre may release stocks under OMSS or lower import duty Taking a serious view of the 10 per cent surge in wheat prices since June-end, the Centre is considering various measures to bring down the prices—from releasing the cereal under the open market sale scheme (OMSS) for user industries to lowering the import duty to zero. Please click here to read more. ...
More »India had dropped the ball & exported excess wheat in 2004-05. Modi govt shouldn’t repeat it -Shweta Saini, Siraj Hussain, and Pulkit Khatri
-ThePrint.in In 2004-05, lack of information on private trade contracts resulted in much larger quantities of wheat exports than intended. India had to import for years to make up. It is clear by now that Indian wheat production in 2021-22 Rabi season is going to be lower than the government’s second advance estimate of 16 February 2022, of 111.32 million metric tonnes (MMTs). The moot question is by how much? Also, if...
More »Cut in reserve price of rice, wheat will hit FCI -Rajalakshmi Nirmal
-The Hindu Business Line Govt move to clear grain stocks with FCI; Corpn holding 2.6 times the buffer norm In an article dated January 6, 2020 (MSP hike leaves FCI with mountain of grains), BusinessLine had indicated that FCI may have to sell a significant amount of its rice stock in the open market if it has to make room for fresh procurement of paddy and wheat. The time for this has...
More »States say no to extra rice over lack of storage -Sandip Das
-The Indian Express The Modi government's efforts to fight inflation by releasing additional amounts of grain to states under the targeted public distribution system (TPDS) is threatening to unravel, as states are ill-equipped to handle extra allocations. While there are few takers among the states for the extra rice allocated under TPDS, the offloading of wheat stocks with the Food Corporation of India (FCI) to bulk buyers has taken off. Analysts say...
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