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Government Removes Minimum Export Price Thresholds on Onions and Basmati Rice
The government had unbanned onion exports in May 2024 but had imposed an MEP of $550 a tonne. Basmati rice was subject to an MEP of $1,200 a tonne on 25 August 2023. That was cut to $950 a tonne in October last year.
Wholesale Price Inflation Hits 9-Month High in December
The positive inflation rate in December is attributed to increases in prices of food articles, machinery & equipment, other manufacturing, other transport equipment, and computer, electronics & optical products, according to the Commerce ministry. Wholesale food prices saw a 9.38% increase, while fuel group prices declined by (-) 2.14%.
Government Attributes Controlled Headline Inflation to LPG Price Reduction and Vegetable Price Adjustment
The report highlights that headline inflation has returned to a controlled state, driven by corrections in vegetable prices and recent reductions in LPG (liquefied petroleum gas) prices.
Onion prices dip after hike in minimum export price: Govt
"The Government’s decision to impose Minimum Export Price of $800/ton on onion with effect from 29th October 2023 till 31st December 2023 to discourage exports and maintain availability in domestic markets has shown an immediate impact of price correction in Maharashtra markets, where prices recorded a decline of 5 per cent to 9 per cent from the highest price registered during last week," an official statement said.
Govt notifies minimum export price of $800 per metric tonne on onion
The measure has been taken to maintain sufficient availability of onion to domestic consumers at affordable prices as the quantity of stored Rabi 2023 onion is declining by curbing the quantity of onion exports.
Onion prices up, selling at Rs 50-80 per kg across NCR
While the staple vegetable was selling at Rs 35 to 40 per kg last week, the prices are touching Rs 50-80 across Delhi-NCR now.
Inflation fell to 3-month low of 5% in Sep
Food inflation, which accounts for close to half of the overall consumer price index (CPI), slowed to 6.56 per cent in September from 9.94 per cent in August. There was a sharp correction in the prices of vegetables, such as tomatoes and onions.
Sectors with the highest 1-year dividend yield
Companies with the highest dividend yield in this sector are Vedanta, Hindustan Zinc and National Aluminium Company with 30.7 per cent, 19.8 per cent and 4.8 per cent, respectively.
Onion wholesellers in Nashik go on indefinite strike to protest export duty hike
The hike in the export duty will make it difficult to export the vegetable and entails huge losses for the farming community, already reeling under a truant monsoon this year.
Not just tomatoes: Wider range of food items drive 7%-plus inflation
This raises the likelihood of inflation remaining above 7 per cent in August, said a research report by broking firm, Prabhudas Lilladher.
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