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.
25 Jul 2023Ukraine 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.
18 May 2023To 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
2 min read30 Oct 2020Agricultural commodity buyers from Cairo to Islamabad have been on a shopping spree since the Covid-19 pandemic upended supply chains.
3 min read14 Oct 2020Food 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
1 min read13 Oct 2020A poll shows Indian retail inflation rose to 6.15% last month from 6.09% in June
1 min read11 Aug 2020WPI 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
2 min read15 Jul 2020Several 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
2 min read20 May 2020If 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
2 min read25 Mar 2020World 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
1 min read5 Mar 2020The Union Budget contains details about the estimated receipts and the expenditure of the government for a particular fiscal year. The Budget is allotted for the upcoming fiscal year, which runs from 1st April to 31st March of the next year. Here is a quick guide on how the Union Budget is prepared