Food Prices News

On July 20th Food and Consumer Affairs Ministry banned the export of non-basmati white rice. India did this to stabilise the volatile retail prices in the country. And this triggered panic among Indians living in the U.S. & U.K. who rushed to the nearest supermarkets in hordes to buy as many rice bags as possible. The weather this year has hit rice production hard. As a consequence, there's a shortage expected in supply. To ensure the shortage in supply doesn't lead to a price rise India decided to impose an export ban. Skyrocketing vegetable prices have already started affecting India's efforts to keep inflation in check.

Ukraine and Russia are two of the world’s biggest grain suppliers. Since the beginning of the war between the two, the world has had to suffer the consequences of massive shortage in grain supplies. A pact permitting grain exports over the Black Sea was extended by Russia and Ukraine on Wednesday, marking a rare instance of collaboration as the war rages between the two countries. The United Nations and the United States applauded the grain deal.

To curb rising prices of onions, government banned its exports on 14 September and has eased imports norms of onions starting 21 OctoberIndia’s retail inflation accelerated to a four month high at 7.34% in September

Agricultural commodity buyers from Cairo to Islamabad have been on a shopping spree since the Covid-19 pandemic upended supply chains.

Food inflation quickened to 10.68% in September from 9.05% in the preceding month, driven by higher prices of vegetables, fish, meat, pulses, eggs and spices

A poll shows Indian retail inflation rose to 6.15% last month from 6.09% in June

WPI inflation contracts 1.81% in June against a 3.21% contraction in MayIn June, crude prices softened 41.4% y-o-y, while fuel prices also eased by 13.6% y-o-y

Several states are taking steps meant not only to ease sale of produce but also to check food price riseStates expect removal of intermediaries in purchasing to boost farmers’ income

If rural markets shutter across producer states, the moderate price rise seen so far, driven by panic purchases, could spikeTraders in large wholesale markets in Madhya Pradesh and Maharashtra are unwilling to operate due to fear of Covid-19 infections

World food prices slipped in February, ending four months of successive increases, driven by falls in prices for vegetable oils, meat and grainsFAO food price index averaged 180.5 points last month, down 1.0% on January