Global demand will put more pressure on India. Forty-six countries, including Sri Lanka and Pakistan, are in need or will be needing external food assistance.
Global food prices surged by 28% in 2021 compared to year before — highest in a decade, according to UN estimates. By May 2022, food prices were 60% higher compared to 2020.
The government will permit purchases of 2 million tons each of the two vegetable oils per annum this fiscal year and the next, according to a notification by the finance ministry.
While a lot has been talked about commodities that have become expensive, not much is being talked about commodities that are selling cheaper than last year.
India prioritised the domestic market even as the move risks its international image as a reliable supplier. Still, the government’s wheat procurement may not meet its needs.
Food companies are under pressure due to rising edible oil prices. Britannia had passed on 65% of its incremental input cost rises in 2021-22 by reducing weights on their existing price points.
While bond yields tend to fall amid low inflation & interest rate cuts, market experts say they’ve been rising due to concerns over tax collections, fiscal deficit & potential impact of US tariffs.
It is one of the most advanced long-range air defence and anti-missile radars. It has been acquired under an about USD 145-million deal signed in 2020.
In its toughest time in decades because of floods, Punjab would’ve expected PM Modi to visit. If he has the time for a Bihar tour, why not a short visit to next-door Punjab?
COMMENTS