Wait...
Search Global Export Import Trade Data
Recent Searches: No Recent Searches

Food inflation to moderate, but any surprise in monsoon or floods may trigger it upwards: UBI report.


Date: 06-09-2024
Subject: Food inflation to moderate, but any surprise in monsoon or floods may trigger it upwards: UBI report
Food inflation, which has moderated a bit lately is further expected to come down in the coming months, Union Bank of India noted in a report, citing progressing Southwest monsoon and sufficient water in reservoirs across regions.

A rise in reservoir levels, coupled with improved sowing of kharif crops are expected to keep the supply-side concerns at bay for some time. However, the report cautioned that any negative surprise may trigger it upwards.

"With at least one more month to be covered by the monsoon, any negative surprise on the monsoon front whether deficit of rain or flooding will again trigger the food price inflation on the upper side," said the report

The retail inflation CPI softened drastically in July to 3.54 per cent from over 5 per cent in the previous month. Food inflation is currently at an over-a-year low.

Kharif crop sowing is progressing steadily, with farmers planting crops across 1,087.33 lakh hectares so far, a 1.91 per cent increase, as against 1,066.89 lakh hectares in the same period last year.

Commodity-wise, paddy, pulses, oilseeds, millets, and sugarcane sowing have been higher year-on-year. Sowing for cotton and jute/mesta has, on the other side, been on the lower side.

In the 2023 Kharif season, the total area under cultivation across the country was 1,107.15 lakh hectares

On the monsoon front, the cumulative rainfall over the country has turned from a deficit to an 8 per cent surplus now.

Rainfall picked up steadily in August. However, uneven spatial distribution remains a concern, with the south Indian region continuing to run a surplus of 26 per cent vis a vis east and northeast Indian region facing a deficit of 13 per cent.

However, the good thing is that the major crop cultivating northwest region has progressed from 18 per cent deficit in July end to 4 per cent surplus now.

The forecast of rainfall over the country during September 2024 is most likely to be above normal, at 109 per cent of the Long Period Average, IMD said recently in its update. Above-normal rainfall is likely over most parts of India, except some parts of extreme north India, many parts of south Peninsular India, and most parts of northe ..

Source Name : Economic Times
 

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 18-09-2025
Corrigendum
Corrigendum to Notification No. 9/2025 – Central Tax (Rate) dated 17.09.2025

Date: 17-09-2025
Notification No. 13/2025-Central Tax (Rate)
Seeks to amend Notification No. 21/2018- Central Tax (Rate) dated 26.07.2018.

Date: 17-09-2025
Notification No. 14/2025-Central Tax (Rate)
Seeks to notify GST rate for bricks.

Date: 17-09-2025
Notification No. 37/ 2025-Customs
Seeks to amend Notification No.19/2019-Customs dated 06.07.2019

Date: 17-09-2025
Notification No. 38/ 2025-Customs
Seeks to amend Notification No.29/2025-Customs dated 09.05.2025

Date: 17-09-2025
Notification No. 39/2025-Customs
Seeks to amend Notification No.50/2017-Customs, dated 30.06.2017

Date: 17-09-2025
NOTIFICATIONNo. 15/2025 – Central Tax
Seeks to exempt taxpayer with annual turnover less than Rs 2 Crore from filing annual return.

Date: 17-09-2025
NOTIFICATION No. 16/2025–Central Tax
Seeks to notify clauses (ii), (iii) of section 121, section 122 to section 124 and section 126 to 134 of Finance Act, 2025 to come into force.

Date: 17-09-2025
Notification No. 12/2025-Central Tax (Rate)
Seeks to amend Notification No. 8/2018- Central Tax (Rate) dated 25.01.2018.

Date: 17-09-2025
NOTIFICATION No. 14/2025 – Central Tax
Seeks to notify category of persons under section 54(6).



Exim Guru Copyright © 1999-2025 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o InfodriveIndia Pvt Ltd
F-19, Pocket F, Okhla Phase-I
Okhla Industrial Area
New Delhi - 110020, India
Phone : 011 - 40703001