India Food News

Bangladeshi firm to set up food processing units in India

admin — Sat, 07 Aug 2010 17:25:17 +0000

PRAN Group, a Bangladeshi food processing and manufacturing firm, will set up agro and food processing plants in Tripura, Orissa and Tamil Nadu, a company official said here Tuesday.

‘Setting up of an agro and food processing joint venture plant with Indian entrepreneurs in Agartala is now in an advanced stage,’ said Ahsan Khan Chowdhury, deputy managing director of the PRAN Group of companies. Source

India Food Inflation Slows to 13-Month Low as Rains Intensify

admin — Sat, 07 Aug 2010 17:24:51 +0000

India’s food inflation slowed to a 13-month low as the country received more rainfall than forecast by the weather office, aiding sowing of lentils and rice.

An index measuring wholesale prices of farm products compiled by the commerce ministry rose 9.53 percent in the week to July 24 from a year earlier, according to a statement in New Delhi today. It was 9.67 percent the previous week. Source

RBI’s done enough on inflation

admin — Sat, 07 Aug 2010 17:22:41 +0000

The Reserve Bank of India (RBI) has taken adequate measures to manage inflation and expects food inflation to ease on good monsoon, a deputy governor at RBI said on Friday. The statement calmed markets that had feared further steep rate hikes to rein in double-digit inflation. It also echoed the views of government officials who have said price rises would ease with normal monsoon despite a record of forecasts that have underestimated inflation.

Food inflation has eased to 9.53% in the week to July 24 from more than 17% in January this year, a fall in seasonal prices of fruits and vegetables, and the release of government food grains in the market. Source

India Food Prices Ease

admin — Sat, 07 Aug 2010 17:21:38 +0000

India’s food inflation rate slipped slightly in the week to July 24 as vegetable and fruit prices eased, cooling expectations of aggressive monetary tightening by the central bank.

The wholesale price index-based inflation rate for primary articles fell 0.2% to 308.2 in the week to July 24, from a provisional 308.8 the week before. From a year earlier, prices of primary articles increased 14.36%, slowing from a 14.50% rise the previous week. Source

India OKs 500,000 T grain export to Bangladesh

admin — Sat, 07 Aug 2010 17:08:09 +0000

India has allowed the export of 300,000 tonnes of non-basmati rice and 200,000 tonnes of wheat to Bangladesh, a government statement said on Friday, as good rainfall and higher planting have boosted crop prospects.

India, which curbed grain exports in recent years to head off domestic price rises, made the announcement after two global suppliers cancelled deals to ship some 65,000 tonnes of Black Sea wheat to Bangladesh after Russia curbed grain exports. Source

Food stocks rotting in granaries

admin — Sat, 07 Aug 2010 16:58:06 +0000

In his inaugural address at extended Central Committee meet here, Karat said: “The Manmohan Singh government has remained indifferent towards Left’s demand for food security for the poor.”

“Food stocks are rotting in government granaries, but Manmohan Singh’s economic policies are limited to his words only. Seems, he has decided to ensure food safety for the rats of India,” Karat said. Source

Food Security Bill soon

admin — Fri, 09 Jul 2010 15:24:48 +0000

The Government of India is keen on piloting the Food Security Bill as early as possible after concluding the ongoing discussions with various state Governments and NGOs, Union Minister of State for Agriculture K. V. Thomas said on Friday.

Addressing reporters after launching “FoodCon 2010”, a conference on Latest Trends in Food Processing and Preserving Technologies, organised by Confederation of Indian Industry (CII), Mr. Thomas said a major point of discussion was over whether the food security programme should be limited to foodgrains or include other entitlements for a healthy life such as edible oil, milk, medicine and even drinking water. Source

Big role for India in organic food trade

admin — Fri, 09 Jul 2010 15:24:11 +0000

India can play a significant role in global organic food trade, Agriculture Minister Sharad Pawar said here Wednesday.

‘Organic agriculture in India has made good progress during last six years. With a combined effect of farmers’ efforts, NGOs’ work, government interventions and market forces, Indian organic agriculture has reached a stage where it can play a significant role not only in the growing domestic market but also in global organic food trade,’ the minister said. Source

Food inflation slips to 12.63%, but fuel up 18%

admin — Fri, 09 Jul 2010 15:23:08 +0000

Fuel inflation accelerated sharply, negating a moderation in food prices and keeping pressure on the RBI to raise rates further when it reviews the monetary policy on July 27.

The recent increase in fuel prices spurred fuel inflation to an annual rate of 18% for the week ended June 26, up from 12.9% in the previous week, data released on Thursday showed. Source

Food grains merchants oppose FDI in retail sector

admin — Fri, 09 Jul 2010 15:19:44 +0000

The Tamil Nadu Food grains Merchants Association has come out strongly against any move to open up the retail sector for foreign direct investment (FDI) and multinational corporations.

The Centre on Tuesday had floated a paper seeking suggestions from various stakeholders on opening up multi-brand retail trading. Source