Posts Tagged ‘vegetable prices’

Food Inflation at 13.7% !!

Hello Friends here we come up with the Latest Agri Commodities updates from various parts of the country.

Food inflation at 13.7%

Food inflation at 13.7%

Food inflation at 13.7%:

The food price inflation went up marginally to 13.7% for the week ended October 31 following an increase in vegetable prices, but the arrival of winter crop is expected to bring down the prices soon.

The built up inflation in the current year, or the increase in prices from the beginning of the current fiscal to end of October, has been strong at 14.4% against 7.67% in the corresponding period last year, data released on Wednesday showed.

This rise has been particularly steep in case of pulses (21.2%), vegetables (54.5%) and potatoes at (127.6%), clearly indicating that poorer segment of the population, who would spend a high proportion of their income on food, would have been hit hard by the increase in the prices.

🙂

In Other major Commodities Updates we can see that wheat production in country is set to increase by 2 million Tonne in 2009-10.

Wheat Production to Increase by 2 Million Tonne in 2009-10:

Wheat acreage and production is expected to increase in 2009-10 rabi season.

A large area, which was not sown under rice due to poor monsoon this year, is expected to come under wheat according to scientists.

Area in central and southern belt will increase as unsown area will come under wheat.

Also, in the Indo-Gangetic plain of the Punjab plain, the Haryana plains, and the middle and lower ganga area will increase.

Rains in the month of September have ensured moisture availability for wheat.

However, the late harvesting of paddy (due to increase in temperature in the last week of October) has delayed sowing of wheat which is a big concern for the agriculture scientist and the farmers.

🙂

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Vegetable Prices to Ease by January : Planning Commission

Hello Friends here we come up with the Latest Major Agri-Commodities updates from various parts of the country.

Vegetable Prices to Ease by January : Planning Commission

Vegetable Prices to Ease by January : Planning Commission

Planning Commission Deputy Chairperson Montek Singh Ahluwalia Sunday said he expected vegetable prices to ease by January.

“At the end of a bad monsoon, the big pressure is on vegetables.

The annual inflation rate for food articles was sharply higher at 13.39 percent for the week under review.

Similarly, the annual rise in the index for pulses was 23.44 percent and that for cereals was 11.15 percent.

He also said that “By December-January, you will see at least something (fall in prices) for vegetables, there will be a different position,” Ahluwalia added.

“It (vegetable) is not something you can import, but in general, certainly in management of public distribution system, we are in a strong position as far as stocks are concerned,” he contended.

“There is more than enough food stock in the country. We do not have to worry on that score.”

The Reserve Bank of India and the government have both warned that India’s annual rate of inflation based on wholesale price index for all commodities would rise to 6-6.5 percent by March, while the Prime Minister’s Economic Advisory Council has pegged it at 6 percent.

🙂

In Other major Commodities Updates we can see that NMCE has kick started trading in gold guinea contract. 🙂

NMCE kicks starts trading in gold guinea contract:

National Multi Commodity Exchange of India (NMCE), the first commodity exchange of the country, has started trading in gold guinea contract to reach to the masses.

The commex has tied-up with Muthoot Group to set up multiple delivery centres.

The guinea would be a Muthoot branded BIS certified serially numbered,available in a tamper proof packing.

The purchase/delivery of the gold guinea will be made available through the Muthoot Finance’s 22 centers across the country, which include Ahmedabad, Kolkata, Jaipur, Mumbai, Indore, Delhi, Rajkot, Kanpur, Lucknow in the North and Trivandrum, Kollam, Kottayam, Calicut, Chennai, Coimbatore, Madurai, Truichi, Bangalore, Mangalore, Hyderabad, Trichur.

🙂

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