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.
Over generations, Bihar’s bane has been its utter lack of urbanisation. But now, even Bihar is urbanising. Or let’s say, rurbanising. Two decades under Nitish Kumar have created a new elite in its cities.
Indian govt officials last month skipped Turkish National Day celebrations in Delhi, in a message to Ankara following its support for Islamabad, particularly during Operation Sindoor.
Bihar is blessed with a land more fertile for revolutions than any in India. Why has it fallen so far behind then? Constant obsession with politics is at the root of its destruction.
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